NFIB

Economic Stimulus Plan Could Be As Much As $100 Billion
09/25/2001

Federal Reserve Chairman Alan Greenspan and Treasury Secretary Robert Rubin today told senate leaders that any economic stimulus plan approved by Congress should be both significant and short term to have the best impact on the nation's struggling economy, possibly as much as $100 billion the New York Times reports.

Those attending the meeting agreed that a package totaling one percent of the country's gross domestic product would be sufficient enough to boost the economy. By limiting any proposal to two to three years, leaders say negative effects, such as a federal deficit, could be avoided.

Greenspan again urged the lawmakers not to make a hasty decision, saying that he believes it's too soon to tell the total economic effects of the terrorist attacks two weeks ago.

"I would strongly suggest that, while there is an obvious strongly desired sense to move rapidly, it's far more important to be right than quick," Greenspan said.