Economic Crisis, Democrats | featured news

The simple truth is that Obama and the Democratic Congress were dealt a lousy economic hand, and they've played it about as well as anyone could. Along with their predecessors and the holdovers at the Federal Reserve, they prevented a collapse of the global financial system and a 1930s-like depression. But given the magnitude of the financial crisis and the global imbalances that gave rise to it, a prolonged period of slow growth and high unemployment was almost inevitable.

Democrats are all over the map on the stimulus and the possibility of a sequel.

U.S. House of Representatives Speaker Nancy Pelosi poured cold water on the idea of another economic stimulus package on Thursday amid suggestions that some Democrats had already begun work on one.

Some Democrats are increasingly concerned about President Obama's $787 billion financial fix for the ailing economy, and are demanding greater transparency on further spending.