$800B Stimulus Too Much for GOP, Too Little for Dems

Adding to already-enormous debt worries Republicans; excess of caution has other side jumpy
By Harry Kimball,  Newser Staff
Posted Jan 8, 2009 3:14 PM CST
President-elect Barack Obama makes remarks on the nation's economy today.   (AP Photo)
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(Newser) – The GOP responded today to Barack Obama’s calls for immediate action on the economy, cautioning that too bold a move could have dire consequences, the Hill reports. “Let’s not use the obvious need as a way to make the problem worse,” said Senate Minority Leader Mitch McConnell, warning against “big mistakes that exacerbate the problem we already have, which is a dramatic, eye-popping deficit.”

House Minority Leader John Boehner echoed McConnell’s concerns about mounting spending. “Yes, our economy needs help, but at the end of the day, how much debt are we going to pile on future generations?” At the same time, some Democrats find the Obama plan too cautious, Politico reports. “Marginal incentives do not work when the economy is falling away from you,” said Sen. Kent Conrad.