Biden: Obama, lawmakers near agreement on stimulus package

12/23/2008 | Bloomberg

The incoming Obama administration is close to reaching an agreement with lawmakers on an economic-stimulus package, according to Vice President-elect Joe Biden. He declined to confirm that the plan will cost $800 billion but noted that that lawmakers and the new administration are close to agreeing on the cost and kind of spending involved with the package. Obama's advisers have said that that U.S. will face its worst economic downturn in decades if the package is not passed.

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