Even more bad economic news:
U.S. manufacturing fell sharply in December and reports from abroad showed the same for plants in Europe and Asia, as businesses cut production and slashed product orders in response to the global recession.But, even more indications we shouldn't expect quick action to turn the economy around if the GOP has its way:
The Institute for Supply Management's index of industrial production slipped by 3.8 percentage points in December compared with the month before, to the lowest level since 1980.
Republicans in Congress could stand in the way of Democratic President-elect Barack Obama's hopes of signing a massive economic stimulus plan into law right after he takes office on January 20.One wonders just what kind of info. would the GOPers need in order to support an economic stimulus package. Perhaps, if the GOP leaders all invested with Madoff or the GOP leaders all lost their health care insurance, we'd see some action.
The plan, aimed at easing the financial crisis, tops the agenda of the newly elected Congress due to be sworn in on Tuesday -- two weeks before Obama. Hearings in the new Congress could push a final package well into February.
