Obama Pushes Stimulation, but How Much and How Soon?

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Two weeks before inauguration day, President-elect Barack Obama is lobbying Democrats and Republicans for a stimulus package that is 60% federal spending and 40% tax cuts for individuals and for business. The major goal of his "American Recovery and Reinvestment Plan" is three million new jobs, mostly in the private sector. It's the New Deal, Keynesian economics used during the Great Depression. Obama is hoping for buy-in from fellow Democrats and Republicans, but supporters fear it won't be big enough, soon enough to make a difference. Opponents call it an "anti-stimulus" plan that could lead to stagflation. We hear both sides.




Warren Olney