Obama Looking at $850 Billion Jolt to the Economy

by 158 | December 17, 2008 at 05:06 pm
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In theory this sounds good,

but he as also talking about

tax cuts.  doing both only leads to

inflation and deficits.Congress

should look long at this.

Anxious to jolt the economy back to life, President-elect Barack Obama appears to be zeroing in on a stimulus package of about $850 billion, dwarfing last spring's tax rebates and rivaling drastic government actions to fight the Great Depression.

Obama has not settled on a grand total, but after consulting with outside economists of all political stripes, his advisers have begun telling Congress the stimulus should be bigger than the $600 billion initially envisioned, congressional officials said Wednesday.

Obama is promoting a recovery plan that would feature spending on roads and other infrastructure projects, energy-efficient government buildings, new and reno

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Blue Crush
First Flagged at 7:15 PM, Dec 17, 2008 by Blue Crush
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