Plagued with the sharpest economic downturn in a generation, US policy makers scrolled through a series of emergency deficit-enhancement measures in 2008-09. The third and final such effort was enacted in February. At $800bn, it set a new standard for government red ink: 12 per cent of 2009 GDP – twice the previous post-World War II high. Full article at ft.com. http://www.ft.com/cms/s/0/af900dd0-3699-11de-af40-00144feabdc0.html. Also available by [PDF Download] on Prof. Hazlett’s faculty profile.