House Democrates to infuse new money into economy

The House Democrates with fears of a severe recession are advocating infusing $300 billion into thye economy by creating public jobs and tax cuts.

This package is substantially more than what President Bush implemented which economists thing is necessary to possibly avoid economic disaster.

"There was a good deal of sentiment among economists for something really big," said Brookings Institution economist Alice M. Rivlin, a former member of the Federal Reserve Board who attended the meeting. "People are really worried that we could be slipping into a deep recession."

This new found money package is likely to include new money for roads and bridges, aid to cash-strapped state governments and extra funds for food stamps and unemployment insurance. Source: www.washingtonpost.com

 

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