Daschle Faces Questions From Senators on Tax Glitch  —  After a quarter-century in Congress, Thomas A. Daschle will return to Capitol Hill today in an unfamiliar role, summoned by former colleagues on the Senate Finance Committee to defend his reputation and his nomination to be secretary …

How Government Prolonged the Depression  —  Policies that decreased competition in product and labor markets were especially destructive.  —  The New Deal is widely perceived to have ended the Great Depression, and this has led many to support a “new” New Deal to address the current crisis.

Permanent vs. temporary increases in government spending, a Keynesian approach  —  Let's say government can spend $100 billion today or spend the present expected value of $100 billion, stretched out over time so it is a commitment in perpetuity.  Both spending programs are financed by bonds.

Bailouts for Bunglers  —  Question: what happens if you lose vast amounts of other people's money?  Answer: you get a big gift from the federal government — but the president says some very harsh things about you before forking over the cash.  —  Am I being unfair?  I hope so.

Gillibrand Hints at a Change of Mind on Immigration  —  Kirsten E. Gillibrand, New York's new senator, suggested to Latino elected officials on Sunday that she would take the lead on some immigration issues — and perhaps quickly drop some positions that they considered objectionable.

'You're now a part of some sobering moments'  —  Following is the complete transcript of PresidentBarack Obama's discussion with Matt Lauer, anchor of NBC's TODAY show:  —  MATT LAUER: We're here in the Map Room at the White House with the 44th president of the United States, President Obama.

PETER HITCHENS: We show tolerance to ‘gays’ and get tyranny in return … If I never again had to read or write a word about homosexuals, I would be very happy.  I really don't want to know what other people do in their bedrooms.  But these days they really, really want us all to know.

Welfare Aid Not Growing as Economy Drops Off  —  WASHINGTON — Despite soaring unemployment and the worst economic crisis in decades, 18 states cut their welfare rolls last year, and nationally the number of people receiving cash assistance remained at or near the lowest in more than 40 years.

Risks Are Vast in Revaluation of Assets  —  As the Obama administration prepares its strategy to rescue the nation's banks by buying or guaranteeing troubled assets on their books, it confronts one central problem: How should they be valued?  —  Not just billions, but hundreds of billions of taxpayer dollars are at stake.

As Obama Talks Of Bipartisanship, Definitions Vary  —  After a week of legislative successes for President Obama, Republicans seized on one asterisk: his inability to line up support from their ranks.  As he heads into his second full week in office, members of both parties are waiting …

Senators Looking to Make Changes in Stimulus Plan  —  Alterations Could Complicate Conference Talks, Drive Up Cost  —  The Senate will open debate today on a nearly $900 billion economic stimulus plan that is similar in size and scope to the package the House passed, creating a possibly smooth path …

Democrats Set High Goal Of Sweeping Fiscal Reform  —  As Senate Opens Stimulus Debate, Sacrifices Become More Urgent  —  It's the holy grail of Washington politics: a federal budget that generates ample funds through a simpler and fairer tax code, defuses the spending time bomb for health …

Out of Gaps In Treaties, First Salvos Of Trade War  —  The world may be on the brink of a gentler kind of trade war.  —  In 1930, Congress fired the first shot in a protectionist battle that prolonged and deepened the Great Depression.  After passing a bill aimed at saving American jobs …