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CBS' soon-to-be White House correspondent Chip Reid covered the Congressional preparations for an economic stimulus package, designed to be enacted within in ten days of Barack Obama's inauguration. It is designed to spend $850bn extra federal dollars over a 24 month period: "The top priority in the Obama plan is big projects that create jobs quickly--rebuilding infrastructure, refurbishing schools, investing in mass transit, healthcare technology and green energy." ABC's economic coverage was A Closer Look at the corporate sector. Businesses are deciding to avoid outright layoffs by cutting labor costs with shared pain instead. David Muir's examples included mandatory unpaid vacations, four-day work weeks, eliminated raises, reduced 401(k) contributions, "trimming everything but the jobs themselves."
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