President-elect Barack Obama promised to launch a "bold" stimulus plan to pull the US economy out of recession once he takes office in January but would not provide a dollar amount for the package.
"I won't give you a number, because we are still making these evaluations, but you are exactly right that what we have seen ... We will have to be bold," he said yesterday.
He said economists on the left and right had told him that without a big stimulus package, "you could see the economy continuing to decline at a pretty rapid clip." "That is not acceptable to me. I don't think it is acceptable to the American people," he said.