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	<title>The Washington Independent &#187; financial chaos</title>
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	<description>National News in Context</description>
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		<title>A $1.3 Trillion Stimulus?</title>
		<link>http://washingtonindependent.com/24531/a-13-trillion-stimulus</link>
		<comments>http://washingtonindependent.com/24531/a-13-trillion-stimulus#comments</comments>
		<pubDate>Thu, 08 Jan 2009 20:43:37 +0000</pubDate>
		<dc:creator>Mike Lillis</dc:creator>
				<category><![CDATA[Blog (deprecated)]]></category>
		<category><![CDATA[Economy/Finance]]></category>
		<category><![CDATA[Obama]]></category>
		<category><![CDATA[$1.3 trillion]]></category>
		<category><![CDATA[barack obama]]></category>
		<category><![CDATA[economic stimulus]]></category>
		<category><![CDATA[financial chaos]]></category>
		<category><![CDATA[recession]]></category>

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		<description><![CDATA[<p>It&#8217;s not impossible. In <a href="http://www.cnbc.com/id/28545989/">an interview</a> with CNBC yesterday, President-elect Barack Obama threw out the $1.3 trillion figure as the upper-end of the suggestions his economic team is hearing from experts.</p>
<blockquote><p>[I]t&#8217;s important to note that every economist, conservative or liberal, at this point agrees that we have to</p></blockquote><p> <a href="http://washingtonindependent.com/24531/a-13-trillion-stimulus" class="read_more">More...</a></p>]]></description>
			<content:encoded><![CDATA[<p>It&#8217;s not impossible. In <a href="http://www.cnbc.com/id/28545989/">an interview</a> with CNBC yesterday, President-elect Barack Obama threw out the $1.3 trillion figure as the upper-end of the suggestions his economic team is hearing from experts.</p>
<blockquote><p>[I]t&#8217;s important to note that every economist, conservative or liberal, at this point agrees that we have to have a substantial recovery plan that helps to jump-start the economy, that short term it&#8217;s going to be expensive, but it would be much more expensive to see the economy continue in the tailspin that it&#8217;s been going in. We&#8217;ve seen ranges from [$]800 [billion] to [$]1.3 trillion and our attitude was that given the legislative process, if we start towards the low end of that, we&#8217;ll see how it develops.</p></blockquote>
<p>Pressed if the package would get bigger than the $775 billion the Obama team tossed out earlier this week, the Illinois Democrat said simply, &#8220;We don&#8217;t know yet.&#8221;</p>
<p>Sounds like a good time to start canning vegetables.</p>
]]></content:encoded>
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		<title>McConnell Calls for State Loans as Part of Stimulus Plan</title>
		<link>http://washingtonindependent.com/24032/mcconnell-calls-for-state-loans-as-part-of-stimulus-plan</link>
		<comments>http://washingtonindependent.com/24032/mcconnell-calls-for-state-loans-as-part-of-stimulus-plan#comments</comments>
		<pubDate>Tue, 06 Jan 2009 20:59:53 +0000</pubDate>
		<dc:creator>Mike Lillis</dc:creator>
				<category><![CDATA[Blog (deprecated)]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[Economy/Finance]]></category>
		<category><![CDATA[111th congress]]></category>
		<category><![CDATA[economic stimulus]]></category>
		<category><![CDATA[financial chaos]]></category>
		<category><![CDATA[mitch mcconnell]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[senate]]></category>

		<guid isPermaLink="false">http://washingtonindependent.com/?p=24032</guid>
		<description><![CDATA[<p>Not sure how this is going to fly with Democrats (read: it&#8217;s not), but Senate Minority Leader Mitch McConnell (R-Ky.) took to the chamber floor today and, in the middle of a long speech about the importance of bipartisan cooperation in confronting the sunken economy, suggested that the hundreds of <a href="http://washingtonindependent.com/24032/mcconnell-calls-for-state-loans-as-part-of-stimulus-plan" class="read_more">More...</a></p>]]></description>
			<content:encoded><![CDATA[<p>Not sure how this is going to fly with Democrats (read: it&#8217;s not), but Senate Minority Leader Mitch McConnell (R-Ky.) took to the chamber floor today and, in the middle of a long speech about the importance of bipartisan cooperation in confronting the sunken economy, suggested that the hundreds of billions of dollars expected to go to states as part of an enormous stimulus bill come in the form of loans.</p>
<p>From McConnell&#8217;s prepared remarks:<span id="more-24032"></span></p>
<blockquote><p>Congressional Democrats have talked about sending hundreds of billions of dollars to the states. If we loan these funds, rather than give them away, states will be far less likely to spend it frivolously. And the taxpayer would have greater assurance their money is well spent.</p></blockquote>
<p>No word on how states, which are furiously cutting services in the face of enormous budget shortfalls, would be expected to pay back these loans afterward (short, of course, of cutting services). In this context, McConnell&#8217;s words sound less like a gesture of bipartisanship than they do a warning to Democrats to cave to GOP demands.</p>
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