Source: Annalyn Censky and Charles Riley / CNN Money
President Obama unveiled a stimulus plan Thursday night that he says will boost hiring and provide a jolt to the stalled economy if it becomes law.
A mix of $253 billion in tax cuts and $194 billion in new spending, the total bill for the plan is $447 billion. Given staunch Republican opposition to most new spending, the measure has almost no chance of passing the House in its current form.
But select parts of the bill could become law, and provide a measure of support for an economy at risk of falling into another recession.
“There is no problem that is more urgent,” said Pamela Loprest, director of the Income and Benefits Policy Center at the Urban Institute. “Economically, the plan hits different places. There are different parts of the economy Obama is trying to jolt.”
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