(CNN) – President-elect Barack Obama's top adviser insisted Sunday that Obama's economic plan would be big enough to handle the country's financial challenges, but he declined to speculate about how large the plan would need to be.
During the presidential campaign, Obama proposed a $175 billion stimulus package over a two-year period, but some of his economic advisers have said recently that the package would need to be much larger.
Asked if Obama would scale up the package, given the economic conditions, Obama's incoming senior adviser, David Axelrod, said he thinks Obama is "going to do what's necessary."
"I'm not going to throw a figure out here. What he said is, he wants a plan big enough to deal with the large challenges we face. And I think there's a growing consensus across the spectrum among economists that we're going to have to do something big," Axelrod said Sunday on ABC's "This Week."
Obama on Saturday offered an outline of his economic recovery plan to create 2.5 million jobs by 2011, saying American workers will rebuild the nation's roads and bridges, modernize its schools and create more sources of alternative energy.
Details of the plan are still being worked out by his economic team, Obama said, but he hopes to sign the two-year, nationwide plan shortly after taking office January 20.
Obama noted he will need support from both Democrats and Republicans to pass such a plan, and said he welcomes suggestions from both sides of the aisle.
so the wingnuts think it's immigrants stealing their jobs and and taxes that are keeping them down
Well run government and well-regulated corporatism benefits all sectors of the economy...if you don't like government and rule of law, go be a pirate in Somalia
Of course he will. Raising taxes is the number one goal. To create more jobs – start taxing the companies who take their business overseas, and out of the country. If the credit card companies can't hire people in the US to do their collection calls, they don't need to receive part of the bailout funds. Oh wait, then there would be no need for a bailout. They scream that people aren't paying their bills, but they won't hire Americans. Makes sense to their minds, I suppose. Cut NAFTA, too. That's another bonus Clinton left us and Hillary loves.
Steve, we tried that for the last two decades and it has destroyed America, and led to the people choosing Democratic Party control for all branches of the government.
If you can find a Fortune 500 company that actually pays a 35% tax rate, I will personally come be your servant. The tax code is so full of loopholes and incentives that American corporations actually end up paying the second LOWEST net effective tax rate in the industrialized world.
Just keep lying and watch your precious Republican party shrivel away to a radical fringe element. Oh wait, they already are.
Obama, do what you know is right - don't listen to the 'experts' on the trying to get you off track to fill their own Wall Street/oil/auto interests. The Fix has to come from the bottom, up. Not from the top, down. The bailouts are not working. Get those Anti-Trust laws back and let the giants, who caused the problem, fall. Get people jobs and income and their spending will get the economy going. Get money to finance your plans from incremental taxing of income of the millionaires who own 95 % of the nations wealth, also from taxing gasoline at the pump (keep it just below $4) - will get us off oil dependancy and into alternate energy. Tax luxury items, remove tax from staple foods.
All he will do, is to give away government work. The private sector made this country NOT government.
Steve, you lump head.... pardon me... Steve, have you been sleeping under a rock? Trickle down economics DOES NOT work! Reagan proved it. Clinton healed it. Bush re-proved it to the point of driving our economy into the ground figuratively as well as literally! Now Obama is going to heal it again! We, the People, have..... wait a minute!!!
Ahhhh..... Pfft... CINDY.... GIRL, is that You again? John lost!! You guys are rich enough without completely bankrupting this country with your elitist philosophies! Seriously..... get over it! You lost! :)
Tax and spend is all they know!
It seems that my Economics major make me so much smarter then some people here. This can't be.
– So cutting taxes on working Americans is discouraging work?
-You say lower taxes but are against tax cuts?
-From the moment you work you ARE paying taxes, from the moment you spend you ARE paying taxes, if you haven't figured that out you need better education.
-Every nation, during economic hard times has seen the worst in it accuse the foreigners, (the US, Germany,etc..) So keep going down that path.
-Every study (you know actual proof?) has shown that in the long run immigration labor has created more work for the simple reason that it creates demand (you know what the firm need to actually produce something and hire people?)
-If you make it unprofitable for the US companies to compete you destroy the US economy. If you believe that you can live in autonomy go ask China in the 60's, go ask Zimbabwe.
I thought this was not rocket science until I read some of you guys post, apparently it is.
One suggestion is to make outsourcing very expensive!!
Don't hire ANY illegal immigrant...Enforce residence requirements to work. No green card...no work. Arrest any employer hiring illegals and heavy fines for doing so. NO WELFARE of any kind for illegals.
Tax breaks for creating jobs here and keeping them here.
By all means necessary...
I pray that Republicans have learned enough this election to know that they need to get with the progam! If they don't get on board, this American train is going to leave without them! God Bless us all, even them!
Gee....since some of ya'll know it all, why haven't you applied for jobs in the Obama administration?
Oh that's right. Because you're not economists.
Sheesh. The pretentiousness is starting to stink.
Lots of rhetoric, very little substance.... IS there a plan?
Lots of back pedaling too.
If I can quote a lot of you ....
"don't blame me, I voted McCain"
Obama is taking the necessary steps to fix the economy. I just love when these hating bloggers have to drum up something to find on our President-Elect. He is trying to help and stimulate the economy. I challenge those bloggers hands down. What would you do better or have a plan that would fix the economy??? Just like I thought Nothing, so shut your traps. Keep up the good work Obama.
Thanks, you hitler look a like
Obama, those who have the high obscene income to loose, want you to not tax it or bail out the big firms who caused this problem. Don't listen to them - keep on your path. Tax them and also tax gas to get the US treasury back on track and to get America less dependent on oil.
Can anyone explain where all the money is coming from? Seems like a simple enough question to me . . . uh, uh . . . guess !!!!!!!!
Yeah, stop outsourcing IT jobs to be offshored. We want jobs and we want to pay taxes to Uncle Sam. I believe that until America can no longer find americans for IT jobs, then we can offshore it, but we shouldnt be offshoring IT jobs left and right. This hurts our economy.
As long as he stops putting former clinton administration people in his, as well as keeps people like the former NY Treasury Secretary out, he might do ok, but the way things are going, he's gonna pull the same / more stuff that clinton did, and contrary to popular belief President Bill Clinton, his administration, and the Democrats are what caused this economic crisis.
Presidential effects on an economy lag 4-10 years behind their implementation of economic plans, and Clinton had nothing to do with the surplus of the 90s. That came entirely from Reagan and Bush Sr's economic plans.
If it weren't for GW Bush's tax cuts, we would have had this crisis start around the time they were implemented, but instead it was staved off for some time and could have been averted but alas, it was not.
I'm not sure we can go back to traditional trade policies. We have entered a new global economy where one day, we will be under one government. That's the coming future. Multi race under one government.. We were always one race, but split up by God because God just couldnt stand seeing 20 Einsteins, working together to knock at his door :)
The village idiot fro T still has 58 days to do more damage. I hope the people in this country never have to put up with another dummy like him.
ANY democrat can do better.
We sure are prospering well under the Bush Administration. People out of work because all of our production jobs have gone over seas.
Even the Chinese are having to close plants because the people hear who lost their jobs can't afford to buy that Chinese made crap. Ya Steve things are really great. Blame Obama if it makes you feel good but it seems to me That Dick Cheney has prospered more than anyone in this country. Ripping off the US military with his Haliburton crap. Ya Steve things are great.
some people in america are stupid for real. they don't want a government that works. this is the reason, the conservatives have destroyed our country
Obama did not come out against Prop. 8 and said nothing as gays marched for their rights-
Does he think gays are not human and have no rights? Does he think blacks are the only minority that has rights?
He says he's the voice of tolerance and the unity President-but he doesn't walk the talk. Is he just anothet slick politician? Guess so.
This woman is here illegally-was deported 4 years ago but has not left the U.S.-she's living off taxpayer money in Public Housing-
Where's the outrage? If this was Sarah Palin's aunt, CNN would be all over this. You're just big phonies.