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$800 Billion Far Too Little Stimulus, Says Duran

Friday, 23 Jan 2009 | 6:21 PM ET

Lawmakers spent Friday fighting over ways to stimulate the economy.

As you likely know the President has proposed a massive spending plan, on the scale of FDR’s New Deal, which includes massive amounts of money for infrastructure, healthcare, and much more.

Republican lawmakers counter that President Obama’s $825 billion package is too costly, and that too much of the spending is for long-range projects that will not stimulate the economy quickly.

Instead Republicans prefer to "get fast-acting tax relief in the hands of American families and small businesses, because, at the end of the day, government can't solve this problem," says House Republican Leader John Boehner.

Debating The Stimulus
The Fast Money traders and Joe Duran, CEO of United Capital Financial Partners, discuss the best ways to stimulate the economy.

But it might not matter what the Dems want -- or what the GOP wants. Lawmakers might not be spending nearly enough to do any good.

“The amount that’s being removed from the economy by the reduction in leverage far overwhelms the $800 billion,” explains Joe Duran CEO United Capital Financial Partners.

He thinks we need to put three times more money into the economy to make a difference. That’s right three times.

Want to know how he’d spend all that money? Watch the video now!

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Trader disclosure: On Jan 23, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MS), (BAC), (C), (TM), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GLD) Call Spread; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (GNW) Long Calls; Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (TBT), (UNH), (V); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (ANF), (COF), (USO); Finerman's Firm Owns (ROH) Calls

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