Getting the money for the economic stimulus plan.

Getting the money for the economic stimulus plan.

With President-elect BarackObama's Inauguration Day less than 3 weeks away, Democratic lawmakers want to pass a far-reaching bill to save the economy. The largest Washington spending bill of all time, which is expected to reach the 1 Trillion Dollar will face some opposition from Republican Senate leaders and could easily be pushed forward in to February.
Democratic negotiators in the House and Senate are working on proposals that they will present to their chambers after the new Congress convenes on Jan. 6.
There is a chance a stimulus bill will be passed by Jan. 20, but it might be the first of two pieces of legislation.
"The first will be stimulus measures intended to get folks back to work and to help with housing. Then a broader measure will advance that will include more public works projects and related measures," said Jaret Seiberg, a financial services analyst at the Stanford Group, a Washington-based policy research firm.
With worsening economic conditions, the estimated cost of stimulating the economy shoots up.
Obama has said he wants to genarate or save 2.5 million jobs in the next two years. With the economic crisis spreading through allmost all levels of industry and the services sector being hit as well, unemployment rising, the retail sector suffering and consumer confidence at an all times low, this is a tremendous challenge. It is no more a matter of just throwing money at the problem but creating a fine-tuned stimulus package, which will need some time.
(Source CNN Money)
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