http://www.americanprogress.org/issues/2009/01/recovery_reinvestment101.html

Heather Boushey of the Center for American Progress debunks some of the myths and falsehoods making the rounds of talk radio & the cable news programs on the stimulus bill.

This recession has the potential to be deeper and more protracted than most other recessions. The Federal Reserve can normally encourage economic activity by lowering the cost of borrowing, but these tools are not as effective as they are in more typical recessions because of the crisis facing the financial sector.

The Federal Reserve has already used up its most common ammunition to boost the economy—the Federal Funds Rate. It lowered the Federal Funds Rate to about zero percent in December 2008 from 5.25 percent in August 2007. Even so, economists are forecasting that economic growth will continue to be negative in 2009, and the end of the economic downturn is nowhere in sight.

What’s more, U.S. families began this recession with less to …

Duration : 2 min 6 sec

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2 Unconventional Tips for Thriving in a Recession

Duration : 4 min 8 sec

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Dr Cecil Rickets provides you with some helpful handy hints to credit crunch cooking and cutting down on weekly food costs. Hoorah !

Duration : 0:1:4

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Bush DoubleSpeak: “Core” Inflation Low,U.S. Pays More for Gas,Food

“…And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine…”

Rev.6:6
KJV
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http://money.cnn.com/2008/01/04/news/economy/bush_economy.ap/index.htm?cnn=yes

(CNN 1/04/2008)

President Bush spoke to reporters Friday after getting an update from his top economic advisers, who are helping him decide whether to offer a package to stimulate the U.S. economy as it weathers the housing slump, rising oil prices and an uptick in unemployment.

“This economy of ours is on a solid foundation, but we can’t take economic growth for granted,” Bush said. “And there are signs that will cause us to be ever more diligent and make sure that good policies come out of Washington.”

Vice President Dick Cheney and other White House officials joined Bush in his meeting with his working group on financial markets, an interagency panel led by Treasury Secretary Henry Paulson that meets regularly to discuss market conditions and regulatory policy. Others around the table included: Federal Reserve Chairman Ben Bernanke; Chris Cox, chairman of the Securities and Exchange Commission; Walt Lukken, acting director of the Commodity Futures Trading Commission; Ed Lazear, chairman of the president’s Council of Economic Advisers; and Treasury Undersecretary Robert Steel.

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Video: CNN

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Duration : 0:2:31

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