Obama and Senate Dems Prepping for Quick, Massive Stimulus Package

A high-ranking official in Senate Majority Leader Harry Reid's office has confirmed that Democratic leadership is looking to have a stimulus package ready for Barack Obama to sign shortly upon taking office.

Jim Manley, a spokesman for Reid, backed up reports from Sunday and early Monday that Congress would work on a massive stimulus package to be prepared for a presidential signature on January 21st. The hope -- as Obama himself noted during a press conference announcing his economic team on Monday -- is to hit the ground running once he takes office, in efforts to repair the teetering economy.

"I want to see [a stimulus package] enacted right away. It is going to be of a size and scope that is needed to get this economy back on track," he said. "We have a consensus, which is pretty rare, between conservative economists and liberal economists that we need a big stimulus package that will jolt the economy back into shape and that it is focused on ... delivering the 2.5 million jobs I am talking about."

Obama would not get into the details of what, exactly, the stimulus would look like. "I don't want to get into numbers right now," he said.

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

DonateDonate by credit card


Thanks for your support!

Did you enjoy AlterNet this year? Join us! We're offering AlterNet ad-free for 15% off - just $2 per week. From now until March 15th.