Will Federal Money Mean Economic Recovery?

Making News

Governor Blagojevich Likely to Face Impeachment ()

The Illinois legislature will convene tomorrow to deal with Governor Rod Blagojevich, who faces criminal charges for putting Barack Obama's vacant Senate seat up for sale. The President-elect, Senator Durbin and the state constitutional officers all have called for his resignation. In Springfield today, House Speaker Michael Madigan said that, since the Governor had "declined," I think it is time we move forward with a committee of inquiry that could lead to impeachment." Chris Fusco covers state government for the Chicago Sun-Times.

Guests:

• Chris Fusco: Reporter, Chicago Sun-Times

Main Topic

Will Federal Money Mean Economic Recovery? ()

Barack Obama wants to "hit the ground running" with massive spending to "jolt" the sagging economy and create or save 2.5 million jobs, with a federal spending program comparable to Roosevelt's New Deal and Eisenhower's Interstate highway system, created during the 1950's. Obama's plan to improve highways and bridges, build schools and promote green technology with federal money funneled through states, counties and cities won't look like his campaign promise to "rebuild America" — at least not right away. The sagging economy has put a premium on speed, rather than the kind of projects that make for a historic legacy. Critics contend the US can't spend its way to economic recovery. What kinds of projects will be involved? We look at the benefits and the risks for private businesses and for consumers.

Guests:

• Alec MacGillis: Reporter, Washington Post, @alecmacgillis
• James Galbraith: Professor of Government and Economics, University of Texas at Austin
• Amity Shlaes: Fellow, Council on Foreign Relations
• Bracken Hendricks: Senior Fellow, Center for American Progress

Links:

• MacGillis' article comparing Obama's economic stimulus plan to previous plans
• Galbraith's 'The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too'
• Shlaes' 'The Forgotten Man: A New History of the Great Depression'
• Hendricks' 'Apollo's Fire: Igniting America's Clean Energy Fire'

Reporter's Notebook

The Shoe Thrown Round the World ()

George W. Bush made his final visit to Iraq yesterday, contending that the US occupation has benefited that country. But at his news conference with Prime Minister Nouri al-Maliki, an Iraqi TV reporter threw his shoes, one after the other, at the world's most powerful leader, yelling in Arabic, "This is a farewell kiss, you dog.  This is from the widows, the orphans and those who were killed in Iraq." The President ducked and Maliki thrust out his arm to deflect the second.  Other journalists pushed the man who threw them to the ground and security officers took him away. Tina Susman is Baghdad Bureau Chief for the Los Angeles Times.

Guests:

• Tina Susman: Baghdad Bureau Chief, Los Angeles Times, @tinasusman