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Obama warns of dire consequences without stimulus (AP)

President-elect Barack Obama speaks about the economy at George Mason University in Fairfax, Va.,  Thursday, Jan. 8, 2009. (AP Photo/Charles Dharapak)AP - President-elect Barack Obama urged Congress Thursday to work with him day and night, on weekends if necessary to approve the largest taxpayer-funded stimulus ever, warning in almost apocalyptic terms that a dire economic future was certain without it.


Obama tax plan runs into opposition in Senate (AP)

Senate Budget Committee Chairman Sen. Kent Conrad, D-N.D., right, accompanied by House Budget Committee Chairman Rep John Spratt, D-S.C., left, takes part in a news conference on Capitol Hill in Washington,  Wednesday, Jan. 7, 2009. (AP Photo/Charles Dharapak)AP - President-elect Barack Obama's proposed tax cuts ran into opposition Thursday from senators in his own party who said they wouldn't do much to stimulate the economy or create jobs.


 

Business News

Wall Street falls as Wal-Mart eclipses Obama (Reuters)

Traders work on the floor of the New York Stock Exchange January 8, 2009. (Brendan McDermid/Reuters)Reuters - Stocks fell for a second straight day on Thursday as Wal-Mart's disappointing December sales and lowered earnings outlook fueled concern the recession may be worsening, pinching consumers' wallets further.


Wal-Mart and other retailers warn after weak December (Reuters)

A customer shops at a Wal-Mart Supercenter in Rogers, Arkansas, June 5, 2008. (Jessica Rinaldi/Reuters)Reuters - Wal-Mart Stores Inc and other top U.S. retailers delivered disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.