Word: stimulus
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...crisis that is making life miserable for millions, star wattage will get you only so far. In the run-up to the G-20, continental European powers such as France and Germany made it clear that they viewed with distaste the principal U.S. prescription for recovery: a massive fiscal stimulus to boost demand. Similarly, at the NATO summit to follow the G-20 meeting, Obama could expect to be met with warm words but few pledges of the troops he would like to augment U.S. forces in Afghanistan...
Union representatives and members of the Harvard community petitioned the City Council yesterday in response to the University’s low-wage worker cuts. The resolution that came before the Council proposed an economic stimulus package in which the City of Cambridge would exempt Harvard from its payment in lieu of taxes (PILOT). The resolution’s sponsor, Counsellor Marjorie C. Decker, said that the resolution is a symbolic method to highlight the absurdity of the layoffs. At the last Council meeting, Decker said she thought this type of gesture would shame Harvard into halting layoffs...
When Bob Schieffer of Face The Nation asked Secretary Geithner if the Administration would have to go back to Congress for more stimulus money because of rapidly rising unemployment, the bureaucrat refused to answer directly, acting as if he believed he would be struck by a bolt of lightning if he did anything beyond dissembling...
...budget, stimulus package, and bank bailout assumptions for employment and revenue are no longer right, the government's pot for solving the nation's economic problems is already light. The Administration's forecast is that unemployment will average 8.1% this year and 7.9% next year. The CBO estimates are a bit higher. Based on where unemployment stands now and where it will likely be at mid-year, none of those numbers is even remotely realistic. (See pictures of the Top 10 scared traders...
...political awkwardness in the Czech capital: They will not be joining President Vaclav Klaus (a skeptic on global warming) at a state dinner; nor will they be sharing delicious Czech lager at an informal pub visit with Topolanek, whose government collapsed a day before his comment about Obama's stimulus inferno. Czech sources insist that the Americans had turned down those two invitations before the Prime Minister's remark. (See pictures of the Obamas in Europe...