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President Bush is expected today (Friday) to offer ideas for stimulating the U.S. economy.
On Thursday, U.S central bank chief Ben Bernanke told a congressional committee that a timely package of new fiscal policies could revitalize the economy, following a string of downbeat economic reports.
A Federal Reserve report showed manufacturing declining sharply in a key area, while a separate government study said the number of new homes under construction in 2007 dropped by 25 percent, the steepest drop for that industry since 1980.
Bernanke stressed that any stimulus package must be implemented quickly and designed to be temporary.
Economic stimulus packages usually come in the form of higher federal spending, lower taxes or some combination of the two.
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