President Bush Announces Economic Stimulus Package

President Bush today called for an "economic stimulus package" worth $140 billion, to encourage business to create new jobs and inject money into the economy, and to provide "direct and rapid income tax relief" to the American people. The President said the package "must be big enough to make a difference" and "take effect right away." After talking with him by phone, the Democratic leaders of Congress were optimistic about a quick agreement. Robert J. Samuelson is economics columnist for Newsweek and the Washington Post.