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View Full Version : Obama to spend almost a Trillion Dollars to Stimulate the Economy



red states rule
12-21-2008, 09:36 AM
I wonder where his argument of spending money our children children will have to pay back went?


Obama looking at $850 billion jolt to the economy

WASHINGTON – 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 renovated schools and environmentally friendly technologies.

There would also be some form of tax relief, according to the Obama team, which is well aware of the political difficulty of pushing such a large package through Congress, even in a time of recession. Any tax cuts would be aimed at middle- and lower-income taxpayers, and aides have said there would be no tax increases for wealthy Americans.

http://news.yahoo.com/s/ap/20081218/ap_on_go_pr_wh/obama_stimulus_13

5stringJeff
12-21-2008, 07:17 PM
Hooray... let's print money and devalue the world's reserve currency for short-term political gain!!!

red states rule
12-21-2008, 07:20 PM
Hooray... let's print money and devalue the world's reserve currency for short-term political gain!!!

Given the fact Reid and Pelosi will now write the spending bills, I am surprised it is only a trillion