Trust in Government Nears All-Time Low.

The latest CBS News/New York Times Poll finds Americans cynical about and dissatisfied with government. At 75 percent, the percentage that disapproves of Congress now matches the highest level recorded in this poll; only in October 2008 and March 1992 was disapproval so high. The two parties themselves have also fallen in public estimation -- more than half the public views the Democratic Party and the Republican Party unfavorably...Link

Lone voice warns of debt threat to Fed.

The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation. Mr Hoenig said that rising debt was infringing on the central bank’s ability to fulfil its goals of maintaining price stability and long-term economic growth. “Stunning” deficit projections were putting political pressure on the Fed to keep interest rates low, infringing on its independence at the risk of inflation, he said...Link

Obama stimulus plan halted economic freefall.

WASHINGTON, Feb 16 (Reuters) - U.S. President Barack Obama's $787 billion stimulus prevented another Great Depression while creating or preserving 2 million jobs, according to a White House report to be released on Wednesday. The report, signed by Vice President Joe Biden who oversees how stimulus money is spent, stressed the depth of the crisis confronting Obama when he took office 13 months ago, as the President constantly reminds Americans in his speeches. But it also highlighted Obama's challenge of trying to cut a 9.7 percent jobless rate that has fueled voter discontent...Link