Economy

Obama's Stimulus Package: Will It Be Too Big To Work?

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If there was any doubt President-elect Barack Obama's stimulus plan will be huge, it was soundly erased during his major economic speech Thursday. The lingering question may be whether it can be passed quickly in its entirety or whether it will come down to a piecemeal, incremental approach.

"I know the scale of this plan is unprecedented, but so is the severity of our situation, " Obama acknowledged, while urging "Congress to move as quickly as possible" to pass the legislation in the next few weeks.

Barack Obama
AP

Though Obama did not say how much his so-called American Recovery and Reinvestment plan would cost, he confirmed to CNBC Wednesday that it would be at least $775 billion, which is more than 5 percent of the nation's rapidly shrinking GDP.

Though economists of virtually all persuasions generally agree that big is better at this point, they also say size and complexity could slow its passage at a time when the economy needs a quick-fix as much as its needs longer-term stimulus.