Monday, November 24, 2008

Significant Stimulus ASAP

Jack Tapper reports some good news:

Democratic sources tell ABC News that President-elect Obama's transition team is working with lawmakers on Capitol Hill so that on Obama's first day in office, Jan. 20, 2009, an economic stimulus package has passed both houses of Congress and is awaiting his signature … On Monday morning in Chicago, Obama will introduce key members of his economic team -- Geithner and soon-to-be National Economic Council director Larry Summers -- and will reiterate what he said in his Saturday weekly radio address: that he will push for a massive stimulus package proposal, one much larger than the $175 billion he proposed as a candidate, perhaps as high as $500 billion.

The story continues by noting that some Democratic officials argue that $500 billion might be too pricey and would invite a GOP filibuster. What – recessions are costless? My only complaint is that we can’t have this stimulus before Obama takes office. Then again - Gail Collins has an excellent idea:

Thanksgiving is next week, and President Bush could make it a really special holiday by resigning ... Putting Barack Obama in charge immediately isn’t impossible. Dick Cheney, obviously, would have to quit as well as Bush. In fact, just to be on the safe side, the vice president ought to turn in his resignation first. (We’re desperate, but not crazy.) Then House Speaker Nancy Pelosi would become president until Jan. 20. Obviously, she’d defer to her party’s incoming chief executive, and Barack Obama could begin governing. As a bonus, the Pelosi presidency would put a woman in the White House this year after all.

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