Obama pleads for $50 billion in state, local aid

The economic malaise is not restricted to Europe. As previously suggested, more stimuli are required. The current proposal defines it as state aid. With the Fed on hold indefinitely, and no political will to cut spending amidst an international debt implosion, infinite QE will continue.

President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragile economic recovery.

Source: washingtonpost.com