this is an adventure

Govs Schwarzenegger and Crist, with state budgets desperate for cash, urge moving “beyond just the principles.” Govs Jindal and Sanford say this is shortsighted approach, and plan to turn down temporary stimulus funds requiring changes in state law that will morph into unfunded mandates. Schwarzenegger responds by saying he’ll take any money they turn down.

Sunday was sweeping proposal day for the EU, as heads of government and finance ministers of Germany, France, the UK, the Netherlands, Czech Republic and Luxembourg rolled out regs for financial markets, crackdown on tax havens, and call to double the size of the IMF, forming a common Euro position ahead of April’s G20 summit.

Tens of millions in donations to Army Emergency Relief charity unspent, including $117 million in reserves. The charity, funded primarily by soldiers, is intended to provide emergency help to active duty families in need. Instead, it’s been giving out questionable loans. AER insists the reserves are needed for future catastrophes and troops returning home.

Obama to announce budget, promise to cut annual deficit to $533 billion by 2013. Says budget will anticipate disasters, attacks. Decides not to keep campaign promise on Bush tax cuts, letting them expire in 2010 instead of eliminating earlier, as “Officials determined seeking to raise taxes earlier during a recession was a bad idea.”