Earn What You Spend

It was certainly a rough week for the economy: it shrank at a rate not seen since 1982, we saw the quite high bonuses of Wall Street even as they beg for TARP money, and layoffs continued unabated. 
Here the President touches on all of these subjects, and outlines a few of his next steps. 

The details around Obama’s stimulus plan are coming into focus.  Some like what they see - others have serious reservations. 
Paul Krugman this morning has an op-ed with advice on how to shape the bill. His main advice?  Don’t waste taxpayer money on tax cuts since their multiplier effect is smaller than direct government spending. Other [...]

A lot of big news yesterday.  First, another massive bank came to the brink of failure, only to be rescued by the U.S. government.  Citigroup, whose stock price had fallen precipitously in the past weeks, received a capital injection and government guarantee of some of their most toxic debts.  It was not an inexpensive move: 
The U.S. is a partner [...]