President Obama to hold prime time address on economy - Spokane, North Idaho News & Weather KHQ.com

KHQ Local News at 5 will not been seen due to address

President Obama to hold prime time address on economy

  • Also on KHQ.comMore>>

  • Mayor Verner addresses City's financial future

    Mayor Verner addresses City's financial future

    SPOKANE, Wash. - At the Spokane City Council's regular Monday meeting, Mayor Verner detailed the steps she has been taking to address the financial pressures faced by the City.>>
    SPOKANE, Wash. - At the Spokane City Council's regular Monday meeting, Spokane Mayor Mary Verner detailed the steps she has been taking to address the financial pressures faced by the City now and for the immediate and long-term future.  The City anticipates several million dollars in expenditure reductions will be necessary to balance the City's General Fund budget for 2010.   >>
  • How to stay sane during crazy times

    How to stay sane during crazy times

    SPOKANE, Wash. - Millions of Americans are unemployed, and millions more fear they will be next. Tough as it is either way, experts say keeping your job or replacing it relies, first of all, on your emotional health. >>
    SPOKANE, Wash. - Millions of Americans are unemployed, and millions more fear they will be next. Tough as it is either way, experts say keeping your job or replacing it relies, first of all, on your emotional health. >>
  • Spokane County to receive $10.4 million in federal funds for transportation projects

    Spokane County to receive $10.4 million in federal funds for transportation projects

    OLYMPIA, Wash. - Gov. Chris Gregoire Monday announced that she certified 138 transportation projects, which makes them ready to receive funding through the American Recovery and Reinvestment Act.  >>
    OLYMPIA, Wash. - Gov. Chris Gregoire Monday announced that she certified 138 transportation projects, which makes them ready to receive funding through the American Recovery and Reinvestment Act. The state is expected to receive $551 million dollars from the federal stimulus package to help pay for the certified projects. INSIDE>> County-by-county map of funding>>
  • White House unveils financial rescue plan

    White House unveils financial rescue plan

    WASHINGTON. - If you're trying to borrow money for your business, for college or for a mortgage and been told no; pay attention to President Obama's latest economic program. >>
    WASHINGTON. - If you're trying to borrow money for your business, for college or for a mortgage and been told no; pay attention to President Obama's latest economic program. >>
  • House passes bill taxing AIG and other bonuses

    House passes bill taxing AIG and other bonuses

    WASHINGTON. - Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.>>
    WASHINGTON. - Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.>>
  • State deficit nearing $9 billion

    State deficit nearing $9 billion

    OLYMPIA, Wash. - Expected state revenue collections have dropped again, and Washington's budget deficit is now edging close to $9 billion through mid-2011.>>
    OLYMPIA, Wash. - Expected state revenue collections have dropped again, and Washington's budget deficit is now edging close to $9 billion through mid-2011.>>

KHQ Local News at 5 will not be seen Tuesday night to accommodate President Obama's address.

WASHINGTON. - Tuesday night, President Obama is expected to hold a news conference at the White House, the second of his presidency. It comes a day after rolling out details of a plan to help banks shed those toxic assets from their balance sheets.

The president called the plan a 'no cure-all for the economy,' and you can expect that cautious tone Tuesday night after a roller coaster week, between the bonus explosion and yesterday's huge market rally.

Investors loved the plan and the Dow's close proved it, up almost 500 points. Why? They see banks soon more free to lend to car buyers, home buyers, and college students; money flowing again.

President Obama is hopeful saying, "we believe that this is one more element that is going to be absolutely critical in getting credit flowing again."

The bet is that private investors will buy off banks' toxic assets, all tied up in bad mortgage loans, if tax dollars bear most of the risk.

Harvard University Professor Kenneth Rogoff said "the reason the private sector is going in is they're exposing themselves relatively minimally whereas the government is taking the risk of the really deep losses so the tax payer is being very exposed."

TTuesday night the president takes his overall approach to the American people in a prime time address. The goal? To keep bits of criticism from snowballing.

Alabama Senator Jeff Sessions said "to me, the whole process has been so mishandled and bungled"

One leading GOP critic of the president's budget is encouraged, and talks taxpayer upside.

New Hampshire Senator Judd Gregg said "the taxpayers are going to make some money here too if it works correctly."

There's also AIG news. New York's attorney general said nine of the ten AIG execs who got big bonuses have agreed to return them. In all $50 million has been pledged back, almost a third of the bonus total.

That will take some pressure off the treasury secretary and Federal Reserve chairman when they testify in Washington, DC today. They plan to call for new government power to seize firms like AIG, so the whole economy's not vulnerable to their collapse.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Grant Co. Sheriff's Office: At least 3 dead, 8 injured in mass casualty crash south of George

    Thursday, May 25 2017 6:20 PM EDT2017-05-25 22:20:15 GMT

    GEORGE, Wash. - At least three people are dead in a mass casualty crash in Grant County and at least 8 other people are injured, some seriously. The crash happened around 5am Thursday morning at Adams Rd. South and Frenchman Hills Rd. which is just S. of Quincy and W. of Vantage, WA. Adams Road South will be closed at that intersection for most of the day.

    >>

    GEORGE, Wash. - At least three people are dead in a mass casualty crash in Grant County and at least 8 other people are injured, some seriously. The crash happened around 5am Thursday morning at Adams Rd. South and Frenchman Hills Rd. which is just S. of Quincy and W. of Vantage, WA. Adams Road South will be closed at that intersection for most of the day.

    >>
  • PHOTOS: 4.5 mile beer pipeline to deliver 400,000 liters of beer

    PHOTOS: 4.5 mile beer pipeline to deliver 400,000 liters of beer

    Thursday, May 25 2017 2:27 PM EDT2017-05-25 18:27:48 GMT

    KHQ.COM - We've heard of oil pipelines... but beer pipelines? Some metal music fans preparing for the "Wacken Open Air Festival," which happens to be the largest metal music festival in the world, are giving us an insiders look at just exactly what a beer pipeline looks like, how it's made and how it works. Festival organizers are installing an underground, 4.3 mile long pipeline to deliver approximately 400,000 liters of beer.

    >>

    KHQ.COM - We've heard of oil pipelines... but beer pipelines? Some metal music fans preparing for the "Wacken Open Air Festival," which happens to be the largest metal music festival in the world, are giving us an insiders look at just exactly what a beer pipeline looks like, how it's made and how it works. Festival organizers are installing an underground, 4.3 mile long pipeline to deliver approximately 400,000 liters of beer.

    >>
  • Wet spring brings black flies out in force in the Inland Northwest

    Wet spring brings black flies out in force in the Inland Northwest

    Thursday, May 25 2017 2:20 AM EDT2017-05-25 06:20:21 GMT

    SPOKANE, Wash. - Nothing beats being outside in this great weather right now, but this wet spring has brought a lot of pests. We’ve been talking about wasps and ticks, but black flies are coming out in force too. Jenny Zhang says she’s noticed black flies a lot more in her neighborhood. Her 2-year-old son Liam was bitten.  “Actually, when he got bit he thought it was a bumblebee and then he was afraid of them,” she says. The bites 

    >>

    SPOKANE, Wash. - Nothing beats being outside in this great weather right now, but this wet spring has brought a lot of pests. We’ve been talking about wasps and ticks, but black flies are coming out in force too. Jenny Zhang says she’s noticed black flies a lot more in her neighborhood. Her 2-year-old son Liam was bitten.  “Actually, when he got bit he thought it was a bumblebee and then he was afraid of them,” she says. The bites 

    >>
HD DOPPLER 6i
/