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| Obama economic advisers: US needs substantial economic stimulus |
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| Written by Egypt News | |
| Tuesday, 18 November 2008 | |
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2 of President-elect Barack Obama's top economic advisers say the US
needs a substantial economic stimulus package to avoid a deep recession
Former Treasury Secretary Larry Summers, who could get the same job under Obama, says the current economic crisis calls for a package big enough to resonate for a period of 2 to three years. The comments came at a business conference also attended by current Treasury Secretary Henry Paulson. Summers stressed the views expressed were only his own, and not necessarily shared by Obama . Summers wouldn't offer his own estimate of how big the package should be, but noted economists at Goldman Sachs are suggesting $500 billion to $700 billion.
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