Clinton Unveils $70B Fix for Economy

GOP hopefuls attack plan and each other; Bush mulls tax rebate
By Will McCahill,  Newser Staff
Posted Jan 11, 2008 8:25 PM CST
Democratic presidential hopeful, Sen. Hillary Rodham Clinton, D-N.Y. greets people during a stop for lunch at King Taco in East Los Angeles Friday, Jan. 11, 2008. (AP Photo/Elise Amendola)   (Associated Press)
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(Newser) – Hillary Clinton upstaged her rivals today by proposing $70 billion in emergency spending to help avoid a US recession, Reuters reports. Her plan would include $30 billion for homeowners, $25 billion for families with high energy bills, and another $15 billion aimed at unemployment insurance and alternative energy plans—all on borrowed money. "I don't think we can wait," Clinton said during a stop in California.

Romney  blasted her plan, which he said "ignores innovation and instead grows the size and role of government." Other GOP hopefuls joined today's economic debate: John McCain attacked Romney's promise to bring back textile and manufacturing jobs, as Rudy Giuliani proposed a $3,000 tax cut for middle Americans. Meanwhile President Bush is said to be mulling a tax rebate to help spark the US economy, Bloomberg reports.