The House passed one fiscal stimulus plan, and the Senate is expected to vote on its version any day now.
The combined government spending for this new package, along with the TARP program and a proposed bank cleanup plan, will total trillions of dollars.
An enormous amount of new debt will be issued to pay for all the government programs, which may push interest rates higher for all types of bonds.
It’s a widely held view that the economy is very weak right now, and Friday’s downbeat Employment report came with little surprise.
The US economy lost about 600K jobs in January, following a decline of 3 million jobs in 2008.
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