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Rick Klein is ABC News' Senior Political Reporter and author of The Note's morning look at the upcoming day in politics. Throughout the day, ABC News' political team contributes to The Note with the very latest news and analysis from the nation's capital.

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Reid Suggests Stimulus Package Could Reach $1.3 Trillion

January 05, 2009 5:32 PM

ABC News’ Jonathan Karl Reports: How expensive will the stimulus package be? 

Obama advisor David Axelrod has suggested a price tag of $675 billion to $775 billion. Others have said it could reach $1 trillion.

But Monday afternoon, Senate Majority Leader Harry Reid offered up a much higher price tag -- almost double, in fact, the number the Obama folks have been talking about.

Here’s what Reid, D-Nev., told reporters at the Capitol:

QUESTION: “Senator -- Senator Reid, what kind of range are you looking at for the size of the stimulus after your talks today?”

REID: “We -- I have not received, of course, the exact package from the president-elect and his folks, but he has indicated that there's at least 20 economists that he's talked with, and all but one of those believe it should be from $800 billion to $1.2 trillion or $1.3 trillion.”

January 5, 2009 | Permalink | Share | User Comments (3)

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Could China, our principal loan holder, start feeling a bit miffed?

Posted by: kat | Jan 5, 2009 5:55:49 PM

How are we going to pay for it?

Will somebody ask someone that question instead of just how much are we going to spend that we do not have. Bankrupt our country to pay back political IOU's is not good government.

Posted by: jim 234 | Jan 5, 2009 5:57:28 PM

Reid Suggests Stimulus Package Could Reach $1.3 Trillion. I am really wondering where U.S.A. the huge money $1.3 Trillion gets from ? U.S. Government will print it or borrow it from China and any countries.

Posted by: Janet from NY | Jan 5, 2009 6:50:45 PM

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