US President Barack Obama flooded American television on Sunday with key economic advisers, pressing to buttress confidence in a nation caught in a financial down-draft unequalled in more than 50 years.
Obama's economic advisor answered questions during popular morning television news programs.
They said the administration believes the fundamentals of the economy are strong and taking a long-term view, not just focusing on the daily ups and downs on Wall Street.
DR. Christine Romer, White House Economic Advisor, said, "So we have put in place a host of wonderful programmes, a stimulus package, the financial rescue plan, the housing plan. We think it is the right medicine; we think it will work."
To help small business owners, Obama will announce a broad package of measures on Monday, that includes 730 million US dollars from the stimulus plan.
This money will be used to immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent.
Republicans have signaled they are not resigned to accepting the Democrats' plans on health benefit taxes or the president's broad budget proposal.
The Obama administration is also planning to take aggressive steps to boost bank liquidity with more than 10 billion US dollars aimed at unfreezing the secondary credit market.
(CCTV March 16, 2009)
