Business Update: Budget worries

February 26, 2009

Wall Street shot higher on Thursday after President Obama's proposed budget set aside additional funding, if needed, for troubled banks. The staggering $1.75 trillion budget deficit proposed by the Obama Administration should lift the economy out of recession by the end of this year, one economist told Reuters. SPEAKER: John Lonski, chief economist, Moody's Conway Gittens reports from New York.