David Kirkpatrick

December 18, 2008

Obama’s two-year stimulus package at $850B

Filed under: Business, Politics — Tags: , , , — David Kirkpatrick @ 12:59 pm

It’s big. Real big, but not as big as has been reported recently.

Earlier this week there were reports that the initial two-year stimulus would be around one trillion dollars. $850 billion is close, but it’s no trillion. There was also talk of a second package matching the first trillion.

Don’t see any report of that in this story. This announcement does mention a possible tax relief program for low- and middle-income taxpayers.

From the second link:

Eager to jolt a worsening economy back to life, President-elect Barack Obama’s aides are assembling a two-year stimulus package that could cost $850 billion with a blend of new jobs, middle-class tax relief and expanded aid for the poor and the unemployed.

Obama has not settled on a grand total, and the final figure could be smaller. 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.

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