Stimulus or Austerity?: That Is the Question

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Federal stimulus spending has fueled economic recovery.  Has the time come to worry about the deficit?  Will spending reductions and increased taxes be needed for long-term stability?  If they're imposed too soon, will austerity measures lead back to recession? Also, the season’s first hurricane creates problems for the Gulf oil clean-up, and Google in China and the battle over Internet censorship.

Banner image: President Barack Obama and Office of Management and Budget Director Peter Orszag discuss the federal budget in the Oval Office Monday, January 26, 2009, during the President's first week in office. Orszag announced last week that he's stepping down. Official White House Photo: Pete Souza



Warren Olney