Barack Obama reveals stimulus package that could exceed $1 trillion

Barack Obama warned Americans yesterday that the US economic crisis will deepen next year, as he revealed the first details of a massive stimulus package that could ultimately exceed $1 trillion.

The President-elect, giving the most extensive interview since winning the election a month ago, spoke the day after he announced the biggest public works construction programme since Dwight Eisenhower created the interstate highway system half a century ago.

In saying twice that “things are going to get worse before they get better�? Mr Obama was not simply reflecting the realities of the stricken US economy but seeking to gain political advantage from the financial crisis.

By talking up the scale of the recession the President-elect was lowering expectations for what he can achieve next year while seeking to justify what will, in effect, be the greatest injection of federal money into the US economy since the Depression-era New Deal. LINK

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