Obama May Seek a Stimulus Plan Exceeding $850 Billion

[thundley4]

Dec. 18 (Bloomberg) -- Barack Obama may ask Congress next year to approve a stimulus plan of around $850 billion, an amount that has grown as the U.S. economy sinks deeper into recession, an adviser to the president-elect said.

Obama’s transition team believes the amount, about 6 percent of the U.S.’s $14 trillion economy, is needed to reverse rising unemployment, said the adviser, who spoke on condition of anonymity. The sum would exceed initial estimates by House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, as well as surpassing what some economists and the International Monetary Fund say is required.

The latest proposal is circulating in Congress as Obama’s advisers work with lawmakers to craft a package aimed at improving roads, bridges and other parts of the U.S.’s crumbling infrastructure. The plan probably will also include state aid for unemployment and health-care programs and incentives such as tax credits to promote renewable energy production, lawmakers have said.

The president-elect wants to create as many as 2.5 million jobs over the next two years. As unemployment has increased, estimates of what is needed to pull the nation out of the slump have continued to grow, with some economists calling for a $1 trillion spending program.

Bloomberg

Can someone explain to me how creating these make-work jobs on roads and bridges will have any long term effect on a recovery?  It seems like nothing more than welfare to the unions and cities/states.

[Chris]

All the unemployed white-collar and office workers will LOVE working on a road crew. 

[Odin's Hand]

I wonder if that jackass Stephen Colbert will start mindlessly chanting "stimulus" like he was with "surge" when he had the defacto, Taliban morale-officer Khaled Houssani on his show?

[Eupher]

More of the same libtard philosophy.

Throw money at the problem.

Asshat.

[Chris_]

After all the wailing and gnashing of teeth from DUmmies nationwide about deficit spending, where are they now???  Why aren't all the liberals stomping around about all this "runaway spending"?  They complain about tax dollars spent on armored vehicles for our troops, but are silent when it comes to billions now being spent on banks and automakers.  Where exactly is this money magically coming from???...printing presses???   

[Eupher]

Where exactly is this money magically coming from???...printing presses???   

Why....yes, of course.

Didn't you know?  [/libtard mode]