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Tom Daschle, President Barack Obama's pick to head the Department of Health and Human Services, withdrew his nomination Tuesday amid a controversy over his taxes. Also Tuesday, Nancy Killefer withdrew her nomination for the post of chief performance officer after bungling payroll taxes.

Sen. Jim DeMint (R-SC) says he is glad former Sen. Tom Daschle withdrew as President Barack Obama's pick to be Health and Human Services secretary. DeMint says senators were receiving angry calls from the public about Daschle's tax troubles, and the issue raised question about Obama's ability to lead in a crisis.

Film critic David Edelstein reviews The Class, the Oscar-nominated French film about a high school class in an impoverished Paris neighborhood.

The economy shrank at a pace of 3.8 percent in the final three months of last year, the worst performance in more than two decades. At the White House, President Barack Obama took note as he was launching a task force to focus on helping the middle class.

The government has announced the U.S. economy shrank at its fastest pace in nearly 27 years. That because consumers and businesses cut spending. Layoffs that began in the real estate and finance sectors are now hitting workers in nearly every field. Some iconic firms are slashing jobs by the thousands.

France shut down Thursday as the country experienced a general strike. The action, called by eight of the country's biggest trade unions, is intended to protest the effects of the global recession, and to demand that the government make protecting employment its top priority.

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.

The unforgettable "Go See Cal" jingle turned Cal Worthington into one of the nation's top car dealers. At 88, he's still appearing in ads with his "dog" Spot and strategizing about how to give the foundering industry a boost.

Several big names in corporate America announced layoffs Monday. Pfizer, Caterpillar, Sprint Nextel, Home Depot and Texas Instruments said they were cutting thousands of positions. So far this year, nearly 200,000 jobs have been eliminated.

The spate of nationwide layoffs continues. Companies announced cuts to more than 40,000 on Monday. Barry Ritholtz, CEO and director of equity research at Fusion IQ who writes about the economy at his blog, The Big Picture, says layoffs are likely to continue for some time to come.