Reuters, 23 Dec 2008, Emily Kaiser and Tomasz Janowski
WASHINGTON/SINGAPORE (Reuters) - Bleak housing data showed the United States and Britain were sinking deeper into recession and authorities from Washington to Tokyo worked hard to spend their way out of the worst downturn in decades.
Japan's government on Wednesday approved its biggest-ever budget to revive its economy while U.S. President-elect Barack Obama sought to clinch a deal with congressional lawmakers on a massive stimulus package before the Christmas Day.
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