NEW YORK (CNNMoney.com) - It is widely considered to be a foregone conclusion. The government will commit a breathtaking amount of money - as much as $1 trillion may be required, some say - on an economic recovery package over at least the next two years.
Economists from across the philosophical spectrum have advised President-elect Obama to act boldly to prosecute a war against the economic and financial crises, the speed and depth of which have shocked most experts.
Lawmakers and Obama are already starting to publicly discuss the broad outlines of elements they want in a stimulus package.
But to win a war, it's a good idea to map out or at least have a sense of the endgame before deploying the troops. That is, lawmakers must think about establishing yardsticks, curbs and deadlines for the money.
(CNN) - W. Mark Felt, who leaked information to reporters under the moniker, "Deep Throat," about the Watergate break-in, died Thursday at the age of 95, sources told CNN.
Rob Jones, Felt's grandson, said his grandfather died at his home in Santa Rosa, California. According to published reports, Felt died of congestive heart failure.
Felt admitted in a 2005 Vanity Fair article he was the Washington Post's source for many of its 400 stories on the Watergate affair during the early 1970s. The Watergate break-in eventually led to the 1974 resignation of President Richard Nixon.
"I'm proud of everything that Deep Throat did," Felt, 92, told CNN's "Larry King Live" in 2006, his first public interview on the subject.
Felt's entanglement with history occurred in 1972 after the bungled break-in at the Democratic National Party offices in the Watergate hotel. Felt, an associate director at the FBI, said he was unhappy with the way the administration meddled with the investigation into the break-in, which led him to divulge information to the newspaper.
WASHINGTON (CNN) - Defense Secretary Robert Gates has asked Pentagon staff to draw up plans for shutting the U.S. prison camp at Guantanamo Bay, Cuba, a Pentagon spokesman said.
The camp holds about 250 suspected terrorists, down from a peak of roughly 750 men from 40 countries.
It houses several top al Qaeda figures, including Khalid Sheikh Mohammed - the confessed architect of the September 11, 2001, attacks.
Gates "has asked his team for a proposal on how to shut it down, what would be required specifically to close it and move the detainees from that facility, while at the same time, of course, ensuring that we protect the American people [from] some very dangerous characters," Pentagon press secretary Geoff Morrell said Thursday.
Morrell described it as a contingency plan in case the new administration wants to take it up early in the new year.
President-elect Barack Obama has pledged to close the camp at Guantanamo but hasn't set a specific timetable. Gates will continue as defense secretary when Obama takes office.
CNN: W. Mark Felt, 'Deep Throat' of Watergate, dead at 95
W. Mark Felt, who leaked information to reporters under the moniker, "Deep Throat," about the Watergate break-in, died Thursday at the age of 95, sources told CNN.
CNN: Caroline Kennedy's public campaign may box in Paterson
Caroline Kennedy is on a public campaign for Sen. Hillary Clinton's Senate seat, which may make it difficult for New York Gov. David Paterson not to send President John F. Kennedy's only living child to Washington.
CNN: Clinton Foundation reaches written agreement with Obama camp
In an effort to clear the way for Sen. Hillary Clinton’s confirmation as secretary of state, CNN has learned that her husband’s foundation has reached a written agreement with the Obama-Biden transition team.
CNN: MN high court rules on some rejected ballots
Minnesota's Supreme Court Thursday barred officials from including rejected absentee ballots in the recount of the state's hotly contested U.S. Senate race unless both of the candidates and elections officials agree the ballot was improperly rejected.
CNN: Kennedy meets with Sharpton in Harlem
Caroline Kennedy spoke publicly about her desire to fill Hillary Clinton’s New York Senate seat for a second consecutive day Thursday, meeting with the Rev. Al Sharpton for lunch in Harlem.
CNN: Bloomberg declines to endorse Kennedy
New York City Mayor Michael Bloomberg declined Thursday to endorse Caroline Kennedy as Hillary Clinton’s successor, but added that he knows “exactly” who should be the next senator to represent his state.
But he wouldn’t give a name.