US stimulus package fails

US - A US economic-stimulus package is all but dead after two votes in the Senate that failed to pass either version of plans crafted by Democrats and Republicans.

The votes followed a warning from the White House on Wednesday morning that a failure to approve the measures would lead to job losses.

"One way to read the consequence is about 300,000 jobs," said Glenn Hubbard, who heads the White House Council of Economic Advisors.

The Democrat's bill, as introduced by Senate Majority Leader Tom

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