According to the transition office, the plan represnts "a new approach to meeting our challenges that focuses on responsibility, accountability, and transparency so that we can rebuild confidence and trust in our economy and our markets."
... Details are TBD.
I assume this will be an attempt to box in the Blue Dogs and Republicans in vulnerable districts on the issue of deficit spending. I think Obama has to tackle it head-on, because $1 trillion deficits make these people - and some members of the public - very nervous. He has to say, "We need to incur this cost now in order to prevent an even higher cost that would result from a second Great Depression. If we can get the economy on track again, then we will be able to pay down the national debt the same way we did when President Clinton was in office." Part of the maneuvering is the $300 billion in middle class tax cuts. It will be hard for the budget hawks to push back when their constitutents would see an immediate benefit.
Also, of course, Obama will make the case that the spending is not just spending for its own sake. He'll lay out the scope and intention of the projects it will be spent on, and argue that in addition to the needed short-term pump-priming, the stimulus will create infrastructure and technologies that will help economic growth down the road. He's been making that argument for some weeks now.
The speech will have to be before 8:30 p.m. Eastern, which is when the BCS championship game is on. My guess would be for him to talk for 15 minutes at 7 p.m.
Update: And I would be wrong:
President-elect Obama's speech will be delivered at George Mason University in Fairfax, Virginia and is scheduled to begin at 11:00 AM Eastern Time.






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