In comments to reporters in Chicago today, President-elect Barack Obama indicated that he was going to push for a stimulus package -- a really big one."Not only do I want the stimulus package to deal with the immediate crisis, I want it also to lay the groundwork for long-term sustained economic growth," Obama said in a quote from The Wall Street Journal. "With our economy in distress, we cannot hesitate and we cannot delay."
To be sure, time is of the essence. The economy is in free fall and may not improve until the end of next year. Investors have as much confidence in the stock market as Philadelphia Eagles fans have in quarterback Donovan McNabb and head coach Andy Reid. (For non-sports fans, the Eagles are the NFL's answer to Citigroup Inc. (NYSE: C), careening from one disaster to another. It's too bad government regulators can't take over the Eagles for bankrupt football play.)
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