Naomi Klein, Robert Kuttner and Michael Hudson Dissect Obama's New Economic Team & Stimulus Plan
On Monday Obama named New York Federal Reserve Bank President Timothy Geithner to the post of the Treasury Secretary. Former Treasury Secretary under Clinton Lawrence Summers was named the Director of the National Economic Council in the White House. Obama also called for a stimulus plan that will “give a jolt to the economy.” We host a roundtable discussion about Obama’s latest economic moves [includes rush transcript].
Stephen Pimpare on "A People's History of Poverty in America"
While President-Elect Obama has talked a lot about the middle class, there has been little said about the issue of poverty in this country. The economic crisis is likely to have a particularly devastating impact on poor Americans. The rising unemployment could push between 7 and 10 million Americans into poverty according to a report from the Center on Budget and Policy Priorities released Monday. Census Bureau figures from 2007 show that 12.5% of the population, or over 37 million people, live below the poverty line. The Center warns hat number could increase to up to 47 million [includes rush transcript].