House Speaker Nancy Pelosi said yesterday that the federal government may have to spend even more money to shore up the nation's ailing economy, on top of the more than $1.6 trillion so far approved by Congress.
With the jobless rate rising and the economy continuing to slow, Pelosi (D-Calif.) told reporters: "We have to keep the door open to see how this goes."
Pelosi's remarks came after senior House Democrats met behind closed doors with four prominent economists, who praised the actions taken by Washington to ease the effects of a recession that threatens to be the most severe since the 1930s. The $787 billion stimulus package, a $700 billion bailout for the U.S. financial system and President Obama's proposal to stem the tide of residential foreclosures are all sound policies that should begin to make a difference in the coming months, they told lawmakers.
Read more @ The Washington Post
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