PRESIDENT-elect Barack Obama's economic team is preparing a stimulus plan worth up to $US775 billion in a bid to jolt the world's biggest economy. Obama's team is looking to craft a package worth between $US675 and $US775 billion over two years, but it could build substantially as it moves through the legislative process, the Wall Street Journal reports."The biggest fear is that people will do too little ... like a start-up that fails because it didn't do enough," a Democratic leadership aide said.
Aides indicated that the plan's final price tag may eventually top even $US850 billion. Since transition team officials believe a trillion-dollar package would hit a "psychological threshold that could carry political consequences," the report said, aides hope to keep it below that figure, fearing accusations of toting up the US budget deficit.
The plan, according to the newspaper, includes a tax cut intended to immediately inject the economy with up to $US100 billion, and some $US100 billion in aid for state governments.
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