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President-elect Barack Obama Economy Recovery Plan Could Cost $775 Billion

Written By: admin on January 3, 2009 No Comment

President-elect Barack Obama’s transition team is putting the finishing touches on an economic recovery plot that could run from $675 billion to $775 billion.

Briefings for top congressional Democratic officials are likely this weekend or on Monday, a senior transition official said Friday.

Obama is slated to meet Monday with House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid in a Democratic strategy session likely to focus on the economic recovery package.

Democrats had hoped to get the recovery plot set for Obama’s signature as close to Inauguration Day as possible, but it is plain that the schedule is slipping.

When Congress convenes next week there will only be two weeks before the inauguration. The earliest the measure could reach the House floor is the week of Jan. 12, said a Pelosi spokesman, and even that is looking doubtful.