Stocks plummeted after bleak unemployment and manufacturing reports, and the California legislature approved and sent a budget to Gov. Arnold Schwarzenegger after a long political deadlock. Jim Lehrer recaps the day's other news headlines.

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In Wednesday's other news, Wall Street was flat, and controversy in the California state Senate has endangered a fragile deal over the state's budget crisis.

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As the Obama administration highlights the importance of finding and investing in renewable energy, states such as California are trying to determine whether wind, solar and other renewables can replace a significant amount of fossil fuel. Spencer Michels reports.

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As the stimulus goes into motion, states around the nation are facing budget shortfalls. California is facing a particularly dire situation, with thousands of jobs on the line.

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In California, one in 25 homes faces foreclosure. Areas such as Inland Empire, known as "the affordable Orange County," are particularly hard-hit. KCET's "SoCal Connected" program reports on the crisis.

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In the day's other news headlines, California lawmakers failed to resolve the state's budget crisis, and Sen. Roland Burris, D-Ill., denied any dishonesty over his contacts with ousted Illinois Gov. Rod Blagojevich.

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With state officials scrutinizing the stimulus plan for funding they hope will revive regional economies, four business writers examine what the real impact may look like.

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Despite a dismal jobs report, the market rose as the Senate began debating the economic stimulus bill. California closed most of its government offices today due to its worsening budget shortfalls, forcing more than 200,000 state workers to stay home…

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Stem cell scientists anticipate a loosening of federal research funding restrictions under the Obama administration despite otherwise shrinking budgets. Spencer Michels reports on where stem cell research stands and how scientists think it may change in the coming years.

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As the impact of the economic downturn ripples across the U.S., four public broadcasting reporters describe how the recession has impacted their states and local communities.

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