Dems Pitch $300B Plan to Jump-Start Economy

But it may have to wait until January
By Rob Quinn,  Newser Staff
Posted Oct 14, 2008 3:31 AM CDT
House Speaker Nancy Pelosi.   (AP Photo/Manuel Balce Ceneta)
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(Newser) – House Democrats are mulling a huge infusion of public cash to kick start economic growth, the New York Times reports. The proposal, announced after a meeting with top economists, would use up to $300 billion to create jobs in new public works projects, and boost food stamp and unemployment insurance programs.

House Republican leaders slammed the "irresponsible" plan and unveiled a rival proposal involving corporate tax cuts and offshore oil drilling. House Speaker Nancy Pelosi would not commit to implementing the Democratic plan immediately after the November elections. Democrats say that President Bush has been hostile to their recent plans to boost the economy and they do not want him to torpedo their stimulus package during his last months in office.