Obama considers $1 trillion plan to jolt economy

By: Associated Press
By: Associated Press

December 17, 2008

WASHINGTON (AP) -- They've been talking with outside economists
from across the political spectrum -- and now, advisers to Barack
Obama seem determined to make an economic stimulus package even
bigger than the $600 billion they initially envisioned.

That word comes from aides to the president-elect, who say the
package could be as large as a trillion dollars. Obama wants a
recovery plan that would feature spending on infrastructure
projects, energy-efficient government buildings, and new and
renovated schools.

Though a two-year, trillion-dollar stimulus is under discussion,
a more likely figure appears to be $850 billion.

There's a concern that if the package looks too large, it could
worry financial markets.

Transition officials say only one outside economist was
skeptical about the need for an economic stimulus.

One economist, Martin Feldstein, confirms that he recommended a
$400 billion investment in one year, and that he'd "expect a
similar amount in year two." Feldstein, who was an informal
adviser to John McCain, says, '"The right amount depends on how it
is used."

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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