President-Elect Obama On The Stimulus, January 7, 2009
Time magazine's false report that Congressional liberal lions called the shots on the stimulus is belied by this January 7, 2009 CNBC interview with then President-elect Obama:
[JOHN] HARWOOD: Tomorrow you're going to give a speech and talk about your economic stimulus package. [. . .] It looks like it's going to be at the high end of your range, around $775 billion.
Pres.-elect OBAMA: That's correct.
HARWOOD: If it's correct that, as your aides have said, the danger is doing too little rather than doing too much [. . .] why stop at $775 billion? Why not go to the $1.2 trillion that some economists have recommended? Is that because you think that the political figure of a trillion dollars is too politically charged to get over? Is it because you think more spending would be pork rather than stimulus? Or do you think you've figured out exactly the right amount of stimulus that's needed?
Pres.-elect OBAMA: [. . .] We've seen ranges from 800 to 1.3 trillion and our attitude was that given the legislative process, if we start towards the low end of that, we'll see how it develops. [. . . MORE . . .]
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