President Obama has released his budget for fiscal year 2010, beginning in October, this morning. Most details of Obama budget are not available yet, but the Washington Post notes some of the details of the budget that will be announced when the budget is released.

Tonight, February 24, at 9:00 p.m. Eastern Time, U.S. President Barack Obama will go before a joint session of Congress for the first time to address the American people on the challenges facing the nation. The speech is expected to focus largely on the economy.

U.S. President Barack Obama will gather a group of lawmakers and economic experts for a meeting Monday to discuss what the White House calls "fiscal responsibility," with details of his 2010 budget plan to be released later in the week. The Obama administration officials told media outlets Sunday that the president has a plan to cut the huge government budget deficit in half in the next four years.

It is now seven weeks of a bad stock market that has dropped the DJIA to new bear market lows. Our stance since Nov. 20 has been that the lows were seen and the market would thus start the bottoming process. In hindsight, our timing may have been too optimistic and the bottoming out for the bear could start somewhat lower.

Citigroup and Bank of America are fearful of bank nationalization. According to CNN Money, both banks have nationalization concerns and are seeing negative returns in the stock market, "...shares of Citigroup and Bank of America [are] down to 52-week lows. Shares of Citigroup recently recovered were down 20% at $2.01, while Bank of America shares have fallen 10% to $3.52."

The Dow Jones Industrial Average closed down about 90 points at a six-year low as weak economic reports reinforce worries of a long recession. Dow ended the day under 7,500 as the U.S. stocks retreated on bank worries.

On Tuesday, President Barack Obama signed the $787 billion stimulus package, AKA the American Recovery and Reinvestment Act (or ARRA)into law on Tuesday. Nearly simultaneously, his administration launched the promised Recovery.gov website.

The economic recovery package is essential for our nation's economy, for its infrastructure, and for our energy, health, and education needs - and now it's the law.

The President is off to Denver this morning, where he'll sign the American Recovery and Reinvestment Act into law.

Big city leaders call the stimulus package, designed to help and grow the U.S. Economy a "Fine Start."

Democrats secure House approval for stimulus package by 246 to 183 votes. Now the House passes the immense economic stimulus bill against Republican objection. This is a victory for President Obama. The nation is anxiously waiting for it to work.

In a move that did not receive major Republican support, the Senate has approved a $838 billion stimulus bill designed to aid in the economic recovery. The stimulus bill is heavy on spending and tax cuts. While although expensive, politicians believe it is the "right thing to do."