Economic Stimulus, Congress | featured news

Paul Ryan has been one of the harshest critics of President Barack Obama's 2009 economic stimulus package. But that hasn't stopped the Wisconsin congressman from trying to help companies in his home state tap into the funds....

Economists Betsey Stevenson and Justin Wolfers write that “the debate in Washington about economic policy is phony. It’s manufactured. And it’s entirely political.” ... Turns out that there’s wide agreement that the stimulus created jobs, TARP was necessary, market factors drive gas prices, tax cuts reduce revenue, tax increases and spending cuts will have to be part of a deficit solution and more.

US Federal Reserve Chairman Ben Bernanke tells Congress that the US economy is "close to faltering" and more action may be needed.

The public panned it. Republicans obstructed it. Many Democrats fled from it. Even so, the session of Congress now drawing to a close was the most productive in nearly half a century.

The massive economic stimulus package President Obama pushed through Congress last year is coming in on time and under budget - and with strikingly few claims of fraud or abuse - according to a White House report to be released Friday.

The Obama administration is considering a range of new measures to boost economic growth, including tax cuts and a new nationwide infrastructure program, according to people familiar with the discussions. On the list of possible actions: additional tax cuts for small businesses beyond those included in a $30 billion small-business lending bill before the Senate. It's not clear what those tax breaks would target or how much they might cost in lost revenue to the government.

As the economy shows troubling signs of another slowdown, some economists are beginning to worry about the possibility of a "double-dip" recession.

Congressional leaders hope to send the nearly $790 billion economic stimulus package to Obama to sign into law by his Presidents' Day deadline.

The plan is budgeted at $789 billion, which is smaller that original bills passed by each chamber. It could be sent to President Obama for his signature by the end of the week.

House and Senate negotiators have struck a deal on a final version of a sweeping economic recovery package.

Geithner acknowledged the government's missteps in dealing with the financial crisis, but he warned that unprecedented intervention is needed.