MORNING READ

by Chris Good - 11/24/08 9:27 AM ET

The federal government’s approval of $306 billion in loans and securities to assist troubled Citigroup finds skepticism among bloggers on the left and right. Democrats, meanwhile, are applauded by liberals for planning a hefty economic stimulus package.

Citigroup is now running exclusively on “taxpayer-funded life support,” RedState’s blackhedd declares, surmising that taxpayers have essentially acquired the troubled bank. And the Citigroup rescue is a slap in the face to Detroit, emptywheel protests, as lawmakers have hesitated to approve a $25 billion in assistance for the Big Three.

News that Democrats’ proposed stimulus could hit $700 billion encourages Political Animal’s Steve Benen, who takes the potential pricetag as a sign that Democrats are taking the economic crisis seriously. A $1 trillion stimulus might be a better target as Dems work on their plan, writes The Jed Report’s Jed Lewison, proposing that average Americans need some bailing out of their own.

Different outcomes for Minnesota’s undecided Senate race, meanwhile, are predicted by conservatives. Democrats could overturn a victory for Sen. Norm Coleman (R) by convincing courts to count rejected absentee ballots, Power Line’s Scott Johnson suggests, while Townhall.com’s Hugh Hewitt predicts Coleman will hold on to defeat Democrat Al Franken after election officials finish recounting votes.

FROM THE BLOGS:
Minnesota Senate Recount Prediction – Scott Mirengoff, Power Line
Future of Agriculture – Natasha Chart, MyDD
Citigroup Received Massive Bailout – Chris in Paris, AMERICAblog
Whoa – Jed Lewison, The Jed Report
Sadr Can Barely Draw a Crowd – Bill Roggio, The Weekly Standard
Blue-Light Special – blackhedd, RedState
The Story – Josh Marshall, TalkingPointsMemo
Scowcroftian Foreign Policy – Ed Morrissey, Hot Air
Saving Citi but Not GM – emptywheel
Obama’s Clinton Problem – Glenn Reynolds, Instapundit