Obama Team Advised To Spend Over $600 Billion On Economy

By: Associated Press Email
By: Associated Press Email

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Business experts from across the political spectrum are advising President-elect Barack Obama's transition team that an economic recovery package must cost more than $600 billion over two years.

Obama's economic team has solicited the opinions of a number of economists, including former advisers to Republican presidential candidate John McCain. The recommendations range from $400 billion in just one year to $1 trillion over two years, according to Obama officials.

The Obama team has not settled on a figure. But the advice represents a far bigger infusion than Obama advisers had initially envisioned. A huge stimulus package could run into Republican opposition in Congress.

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