by Associated Press
Published: Tue, November 18, 2008 - 3:45 am CST
Last Updated: Tue, November 18, 2008 - 3:48 am CST
WASHINGTON (AP) - Two of President-elect Barack Obama's topeconomic advisers say the U.S. 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 two to three years.
Robert Rubin, another Treasury secretary under Bill Clinton,
agrees.
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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