Hear: Don't Call It A Stimulus
On today's Planet Money:
-- As U.S. job losses mount, so do calls for another round of economic stimulus spending by the federal government. So far, President Obama says it's not needed. Stay tuned, says Eurasia Group's U.S. policy analyst Sean West. He argues that Democrats now own the economy, which means the administration will have to take some kind of action to get things going again. It's just that they might not call it a stimulus plan.
-- Sen. Kent Conrad (D-ND) wants to know exactly what caused the economy calamity we're now living through. Conrad sponsored legislation to create the Financial Crisis Inquiry Commission, a panel with economic experts and no elected officials, to study the matter. The group returns with its findings ... in 2010.
Bonus: Christmas in July, and not in a merry way, either.
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Leslie sends this picture of what looks like a Salvation Army bell-ringer in Times Square today. We'll follow up tomorrow.
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