Schumer Signals McConnell on Big Stimulus
Chuck Schumer released a statement (below) calling for a big economic stimulus in the order of $500 billion to $700 billion. This is in line with what the Economic Policy Institute calls for, at a minimum of $600 billion.
Schumer uses coded language to get Mitch McConnell interested in the plan, such as "big package" and "it has to be deep." Crafty guy, that Chuck. I’ve long been a critic, but gotta give him props on this one.
Schumer’s statement follows (h/t Matt Stoller):
Sen. Charles Schumer, D-N.Y., said Sunday that he thinks the economic stimulus package should be between $500 billion and $700 billion.
In an interview with ABC’s "This Week," Schumer said, "I believe we need a pretty big package here." He added that Congress is working on getting the economic package to President-elect Barack Obama by Inauguration Day. "I think it has to be deep. In my view, it has to be between $500 and $700 billion, and that’s because our economy is in serious, serious trouble."
"It’s a little like having a new New Deal, but you have to do it before the Depression. Not after," Schumer added.