US announces plan to delay foreclosures

The Republican presidential contenders might want to watch a bit more CNBC or Fox Business Network. The first question from moderator Chris Wallace of Fox News at last night's GOP debate in Myrtle Beach, S.C., was about the chances of an impending recession and what actions the candidates would take as president to prevent or minimize one. In short: Are they in favor of short-term fiscal stimulus and, if so, what kind?

But Mitt Romney, John McCain, and Rudy Giuliani all gave answers mostly about what they would do to ensure the long-run growth of the economy and appeared unaware of the fiscal stimulus debate currently happening in Washington and being closely watched by Wall Street. Only Fred Thompson seemed to have actually read the morning papers or been thoroughly briefed on the subject. read more