Fallout: The Financial Crisis

Diverse groups line up for Obama plan

Steve Henn Jan 2, 2009
HTML EMBED:
COPY
Fallout: The Financial Crisis

Diverse groups line up for Obama plan

Steve Henn Jan 2, 2009
HTML EMBED:
COPY

TEXT OF STORY

Steve Chiotakis: President-elect Barack Obama and congressional leaders are getting together Monday. They’re set to discuss Mr. Obama’s stimulus package worth hundreds of billions of dollars. But some Republican leaders are already hesitant to come on board. Here’s Marketplace’s Steve Henn.


Steve Henn: Republicans are worried the Democrats could try to increase the size of the stimulus plan to close to a trillion dollars. And Republican Senate Minority leader Mitch McConnell has warned that his party won’t simply roll over or offer a rubber stamp.

The Obama plan will likely include massive infrastructure spending, an extension on unemployment benefits as well as aid to states facing increased costs for services like Medicaid. But interests as diverse as zoos, aquariums and U.S. steelmakers are lining up for a piece of stimulus pie.

Ryan Alexander: They’re looking for the opportunity.

Ryan Alexander is president of Taxpayers for Common Sense:

Alexander: That’s, you know, that’s their job — they’re trying to protect or advance their industries.

American steel executives told the New York Times they’d like the bill to include a buy American clause. And the U.S. Conference of mayors put forward a plan that includes $1.5 million for a waterslide in Miami.

In Washington, I’m Steve Henn for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.