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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

This Week: Critical Government Decisions

This is a big week for Washington and the economy. Fresh off of Friday's jump in the unemployment rate, this week will be critical in determining whether Congress will move ahead on a massive new $800 billion stimulus bill designed to jump start the economy or at least begin to turn things around from the quickly accelerating job losses.

President Barack Obama has urged the Senate to take up its version of the stimulus bill today. Then lawmakers from the Senate will begin the heated negotiations with the House and its version.

Tomorrow, new Treasury Secretary Tim Geithner is set to announce an overhaul of the government bailout program. The announcement has been delayed by a day so that Obama could focus his attention on getting the stimulus bill passed. Geithner is expected to outline a host of new aggressive measures to help the struggling financial sector and a new plan to help struggling homeowners facing foreclosure.

Stay tuned. It could be a wild week.

--Sara Goo

By Sara Goo  |  February 9, 2009; 6:35 AM ET
Categories:  The Ticker  
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