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Economic Recovery

President Barack Obama's plan to jolt the economy out of recession with $825 billion worth of new spending and tax cuts was approved in the House on Wednesday. In the Senate, the appropriations committee put finishing touches on its version of the economic recovery plan in preparation for a debate next week in the full Senate. Another panel heard former Vice President Al Gore testify that the package would provide “unprecedented and critical investments” in energy efficiency, renewable energy, an improved electricity grid and cleaner cars. In the Budget Committee, Senator Bernie Sanders focused on who caused the problem.

Sanders blamed Wall Street’s “greed and recklessness” for dragging down the economy.  He questioned whether anyone will be held legally accountable. “I am concerned that because they are rich and powerful that they won’t get the same treatment as the average criminal,” Sanders said.

To watch Sanders’ exchange with new Congressional Budget Office Director Douglas Elmendorf, click here.