After yesterday's testimony on Capitol Hill by Gen. David Petraeus, Democrats want to push legislation this spring that would force the Iraqi government to spend its own budget surplus from oil revenues to rebuild the ravaged country. This comes after Petraeus recommended that the Bush administration delay further troop withdrawals beyond the pullout of the surge forces.
The International Monetary Fund says the United States will enter a recession this year, according to its "World Economic Outlook" report, which was released today. The report forecasts economic growth of just 0.5 percent in 2008, the slowest rate in 17 years, and 0.6 percent in 2009. "The U.S. economy will tip into a mild recession in 2008 as the result of mutually reinforcing cycles in the housing and financial markets," the report said.
Watch out, YouTube. Yahoo's Flickr, a popular site where users can share photos, is delving into the online video world. Flickr began showing homemade videos late yesterday, hoping to compete with video-sharing giant YouTube, which is owned by Google. This latest step represents Yahoo once again trying to catch up with Goggle in a crucial Web battleground.