President-elect Barack Obama outlined steps to trim the federal budget as he simultaneously plans a costly stimulus package to jolt the ailing U.S. economy.
Though he does not take office until Jan. 20, Obama's team of economic advisers are already working out the details of a two-year package to save or create 2.5 million jobs that could cost several hundred million dollars
That spending, which is expected to push the budget deficit higher, will be offset at least partially by spending cuts elsewhere, Obama said.
On Monday’s Fast Money spoke with Obama adviser Laura Tyson.(Click here to see the interview.) In a heated discussion she suggested the economy could need as much as $600 billion in stimulus.
If you saw the interview you’re probably not surprised that more than a few viewers sent us comments.
Paul tells us “It is simply offensive to viewers like myself that Laura Dyson suggests "systems" and not individuals are responsible for the creation of a credit structure that was leveraged 40:1 and that now requires hundreds of billions, probably trillions of taxpayer dollars to correct.”
Randall M. writes, “The manner in which she summarily dismissed your questions chapped my *!*”
And that leads to our Fast Money Reader Poll. Do you have confidence that the Obama administration can handle the financial crisis?
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CNBC.com with wires