Wal-Mart Taps 'Inner Skinflint' Amid Downturn

Says he expects more job creation once 'temporary shocks' pass

(NEWSER) - The Federal Reserve is ready and willing to pour more money into the economy if it has to, Ben Bernanke told Congress today. “The possibility remains that the recent economic weakness may prove more persistent than expected … implying a need for additional policy support,” Bernanke said. “The Federal Reserve remains prepared to respond.” More»

'Short term is when government can be most effective': Paul Krugman

(NEWSER) - Not only has the US economy been "stuck in a rut," but now a "destructive passivity has overtaken our discourse," writes Paul Krugman in the New York Times . The common wisdom today is that there is nothing the government can do in the short run to help the economy, so we should concentrate on the long run. "This gets things exactly wrong," says the Nobel Prize winner. "The truth is that creating jobs in a depressed economy is something government could and should be doing." More»

(USER SUBMITTED) - Jim Surowiecki, writing for the New Yorker, says that the Obama stimulus package worked surprisingly well. Yet, Surowiecki notes, Obama gets little credit for it because he did the economically, rather than politically, expedient thing. Rather than lump-sum tax rebates, which consumers tend to horde, he gave taxpayers a small break in every paycheck, which they spent—stimulating the economy. By giving money to the states to retain jobs, rather than create new ones, he maintained stability and reduced unemployment. More»

Team searches for ways to bolster economy

(NEWSER) - With economic recovery looking sluggish at best , President Obama is considering a national infrastructure program, alongside a wave of tax cuts for businesses and individuals. Up for discussion are additional tax cuts for small businesses, a possible payroll tax cut for businesses and individuals, and other tax breaks aimed at encouraging businesses to hire, sources tell the Wall Street Journal . More»

It's all about 'good values' and a secure environment

(NEWSER) - Americans debated the merits of fiscal stimulus a lot—in particular how big it should be. But it's important not to lose the forest for the trees when engineering an economic recovery, David Brooks writes for the New York Times . Consider Germany, which had a much smaller stimulus and is "recovering nicely." The US, on the other hand, "tried big, but is emerging slowly." More»