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The rival candidates are spelling out their plans to improve the economy in appearances this week. And those plans have markedly different approaches to an issue likely to dominate the presidential race.

President Obama's pick for Treasury secretary, Timothy Geithner, began his confirmation hearing with an apology Wednesday. He told members of the Senate Finance Committee the tax questions that delayed his confirmation were the result of his own careless mistakes. But he added the mistakes were unintentional. The panel is expected to vote Thursday on his nomination.

The Senate is set to vote Thursday on whether to release the second half of the $700 billion financial rescue package. While most Democrats are on board to approve the funds, many Republicans say the bill lacks transparency and accountability. President-elect Barack Obama's economic team went to Capitol Hill Wednesday to try to win them over.

Retired Gen. Eric Shinseki, President-elect Barack Obama's pick to head the Department of Veteran Affairs, has promised to modernize the agency. Shinseki appeared Wednesday before the Senate Veterans Affairs Committee at his confirmation hearing.

A massive fire in the Angeles National Forest nearly doubled in size overnight, threatening 12,000 homes in the Los Angeles area. Gov. Arnold Schwarzenegger has issued emergency declarations for four counties.

U.S. Attorney General Eric Holder called the recent beating death of a Chicago teen a "wake-up call" that would lead to action. Holder and Education Secretary Arne Duncan held a news conference with Chicago Mayor Richard Daley. The two Cabinet officials were sent by the White House to Chicago after the killing.

The Senate is taking up the $700 billion plan to rescue Wall Street. Benton Ives, economics and finance reporter for the Congressional Quarterly, says the legislation is largely the same as the one the House rejected Monday, but with added tax breaks and an increase on the deposit insurance cap.

President Biden heads to a New York district where Republicans eked out a victory in 2022. It's part of a push to put pressure on vulnerable Republicans to lift the debt ceiling.

Financial assistance to Ukraine will help shore up the country's currency, which has maintained strong buying power despite the war.

The House has passed an $825 billion economic stimulus bill. However, no Republicans voted for the bill. They say it has too much spending and not enough tax cuts. It was a loss for bipartisanship but an early win for President Obama — just eight days into his presidency. The bill now goes to the Senate.