Stimulus Package

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December 2008
- Mayors Make Pitch for Piece of Stimulus Pie
  
  Politico | Dec 1, 08 10:51 AM CST
  
  (Newser) - For American mayors, economic crisis means a chance to hit up the feds for a buck, Politico reports. The US Conference of Mayors has compiled a list of 4,600 projects that would create 261,000 jobs in 154 cities; the plan currently totals $90 billion, but an official said cities could easily get $180 billion as Barack Obama ups federal spending to create jobs. More »
- Next Stimulus Plan Will Hinge on Spending
  
  New York Times | Dec 1, 08 10:09 AM CST
  
  (Newser) - With President-elect Obama promising 2.5 million new jobs, analysts see a stimulus package that will rival, if not eclipse, the nearly $1.4 trillion spent to calm Wall Street, Louis Uchitelle writes in the New York Times . And with the economy contracting, federal spending should have a greater effect than tax breaks alone, many say. More »
- Forget the Deficit: Spend, Spend, Spend!
  
  New York Times | Dec 1, 08 9:07 AM CST
  
  (Newser) - As the incoming administration prepares a massive fiscal stimulus to jolt America's floundering economy back to life, some are worrying about what billions in spending will do to the budget deficit. On the contrary, writes Paul Krugman in the New York Times : Deficit spending now will help, not harm, the country's long-term prospects, and worrying about the deficit during a crisis is both misguided and dangerous. More »
November 2008
- Obama's 'Macho' Stimulus Plan Forgets Women
  
  Boston Globe | Nov 28, 08 4:10 PM CST
  
  (Newser) - Barack Obama’s stimulus package calls for new jobs to fix roads and bridges, build solar panels and wind-power turbines, and create green cars. Sounds great, except for one thing: These are all fields that employ mostly men. "This might as well be called the macho stimulus package," writes Randy Albelda in the Boston Globe . What about all the single mothers and unemployed women out there? More »
- EU Unveils $260B Stimulus Package
  
  Der Spiegel | Nov 26, 08 3:55 PM CST
  
  (Newser) - The European Union Commission passed a $260 billion stimulus package today intended to boost its members’ economies during the next 2 years, Der Spiegel reports. The plan calls for more funds than most economists expected, but as the commission president Jose Barroso put it: “Exceptional times call for exceptional measures. The Recovery Plan is big and bold, yet strategic and sustainable.” More »
- Food Stamp Use Nears Record High
  
  Washington Post | Nov 26, 08 6:05 AM CST
  
  (Newser) - Rising unemployment is expected to push the number of Americans on food stamps to an all-time high of more than 30 million this month, the Washington Post reports. Food pantries say they are also experiencing a surge in demand and a hunger hotline in Washington DC says its calls have more than tripled—and come mostly people who have never sought help before. More »
- Thrift Helped Get Us Into This Mess
  
  Washington Post | Nov 25, 08 10:09 AM CST
  
  (Newser) - Three factors are playing into the financial crisis, and it's time to recognize the culprit that accompanies the burst housing bubble and banking meltdown, Robert J. Samuelson writes in the Washington Post . The wealth effect—"the tendency of people to adjust their spending as their wealth changes"—is reversing, with Americans scrambling to save in the face of falling stock prices and home values. The consequences could be dire. More »
- Obama on Economy: My Job Starts Now
  
  The Hill | Nov 24, 08 12:12 PM CST
  
  (Newser) - When it comes to the economy, Barack Obama says his work begins “right now.” Obama introduced his economic team today; as expected, he designated Timothy Geithner as treasury secretary and Lawrence Summers as director of the National Economic Council. The president-elect said they would begin work immediately on a huge stimulus package, which could be signed almost immediately after his inauguration, the Hill reports. More »
- Politically, Geithner's a Mystery
  
  Politico | Nov 24, 08 12:10 PM CST
  
  (Newser) - As the head of the New York Fed, Timothy Geithner is a known quantity in certain circles. But as he starts the process of taking the helm at the Treasury Department, the officials who will vote on his confirmation know surprisingly little about him, reports Politico. “I always worry about somebody who has spent his whole life at the Federal Reserve,” says an influential union president. “I just don't know him.” More »
- Obama Stimulus Plan Balloons to $500B
  
  Wall Street Journal | Nov 24, 08 10:50 AM CST
  
  (Newser) - Barack Obama’s financial team is constructing a $500 billion stimulus plan that it hopes to rush through Congress early in 2009, the Wall Street Journal reports. Obama would sign the bill, which is far more ambitious than anything discussed during the campaign, almost immediately after his inauguration. “This is an extraordinary time,” an aide said, “and extraordinary responses are needed.” More »
- Obama Fiscal Team Reunites Rubin Protégés
  
  New York Times | Nov 24, 08 9:54 AM CST
  
  (Newser) - Barack Obama’s incoming administration is stocked with acolytes of Bill Clinton-era Treasury Secretary Robert Rubin, reports the New York Times . But even Rubin and his protégés are no longer quite as enamored as they once were of so-called Rubinomics—deregulation, balanced budgets, and free trade. Facing economic crisis, Rubinistas like Larry Summers and Timothy Geithner—and Rubin himself—are now sounding more like their liberal critics. More »
- 'Public Sick of Partisanship': Lieberman
  
  Politico | Nov 23, 08 12:00 PM CST
  
  (Newser) - Joe Lieberman told Meet the Press today that he regrets "some things I said in the heat of the campaign that I wish I'd said more clearly," and hopes Barack Obama will put, er, "country first" by leading in a bipartisan fashion. Lieberman said he called Obama during the campaign, but, oddly, never heard back from him, Politico reports. In other talk shows: On Fox News Sunday, Obama adviser David Axelrod urged the next Congress to create a new multi-billion-dollar bailout plan to create jobs, The Hill reports. “We don’t have time to waste here,” Axelrod said. More »
- We Need New Leadership, Now
  
  New York Times | Nov 23, 08 6:32 AM CST
  
  (Newser) - Washington is carrying out “business as usual in the most unusual economic moment of our lifetimes,” writes Thomas Friedman in the New York Times . It’s time for our leaders to wake up to the enormity of the financial crisis, the real "weapon of mass destruction," a problem that only serious capital and confidence can resolve, he warns. One step toward getting that confidence: inaugurate Barack Obama now. More »
- Krugman: Throw Away Prudence to Fix Economy
  
  New York Times | Nov 14, 08 12:03 PM CST
  
  (Newser) - The financial world has been turned upside down, and while we may not be headed for another Great Depression, we are embroiled in “depression economics,” writes Paul Krugman of the New York Times , a time when normal economic tools like the Fed's rate-cutting powers have “lost all traction.” In times like these, “virtue becomes vice, caution is risky and prudence is folly.” More »

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Stories

Mayors Make Pitch for Piece of Stimulus Pie

Next Stimulus Plan Will Hinge on Spending

Forget the Deficit: Spend, Spend, Spend!

Obama's 'Macho' Stimulus Plan Forgets Women

EU Unveils $260B Stimulus Package

Food Stamp Use Nears Record High

Thrift Helped Get Us Into This Mess

Obama on Economy: My Job Starts Now

Politically, Geithner's a Mystery

Obama Stimulus Plan Balloons to $500B

Obama Fiscal Team Reunites Rubin Protégés

'Public Sick of Partisanship': Lieberman

We Need New Leadership, Now

Krugman: Throw Away Prudence to Fix Economy