Chicken Feed

What can you buy with $145 billion? Apparently not much.

Dubya tries to help:

President Bush embraced about $145 billion worth of tax relief on Friday to jump start the lackluster economy. If Congress passes an economic stimulus package, the country will be "just fine," he said.

Nevertheless the Dow is close to closing below 12,000 [Update; rebounded and closed at 12,089.95]:

Wall Street extended its decline Friday, as skittish investors unable to hold on to much optimism about the economy drew little comfort from President Bush's stimulus plan.

Investors pulled back from a big early advance, with the major indexes trading mixed as Bush began to speak. By the time the president finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.

"It's disappointed in the size of the economic growth package. Wall Street's showing its displeasure," said Kim Caughey, equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Honestly, I think the institutional investors understand the limits to the government's ability to enact economic change."