1/9/09-TWD's Agenda For The Weekend, Friday Edition: Who Has "Tha Monies"?

Photo from google.com(Will you be the next to lose your job, if you have any?)

More embarrassing news to give to you about our corrupt and incompetent Treasury department:

They still have no clue what is being done with the bailout money they have so frivolously given out:

Late last month, Treasury issued a response that provided almost no new information whatsoever. As we noted, one paragraph appeared twice, in virtually identical form, in response to two different questions posed by Warren.

Now this new report finds that the problem is a long way from being fixed

The Panel still does not know what the banks are doing with taxpayer money.

If you want to read the report in its entirety, here it is right here.

Moving on, the debate on how big the stimulus plan proposed by Obama still continues.
Paul Krugman still feels the stimulus package just isn't big enough despite Obama's appropriate tone of how dire the situation is.

The bottom line is that the Obama plan is unlikely to close more than half of the looming output gap, and could easily end up doing less than a third of the job.

Why isn’t Mr. Obama trying to do more?

Is the plan being limited by fear of debt? There are dangers associated with large-scale government borrowing — and this week’s C.B.O. report projected a $1.2 trillion deficit for this year. But it would be even more dangerous to fall short in rescuing the economy. The president-elect spoke eloquently and accurately on Thursday about the consequences of failing to act — there’s a real risk that we’ll slide into a prolonged, Japanese-style deflationary trap — but the consequences of failing to act adequately aren’t much better.

Here's Obama responding today to any critical viewpoints of his plan so far:

And finally, unemployment reaches a 16 year high, as it hits 7.2%

All of this news that you have seen in today's agenda, a reaction to the Bush Recession.

The Agenda's P.S. will be in the comments section at 1:50 PM. It's Friday, so you'll get the usual Friday menu of the Flashback videos and the Cinema. Peace