The House just kicked off three and a half hours of debate on an $825 billion economic stimulus package.
House Appropriations Chairman Rep. Dave Obey, D-Wis., said the current economic situation may be the close to what then-President Franklin Delano Roosevelt faced when he created the New Deal. Obey, who has been cautious about the impact of the stimulus, again said $825 billion may not be enough.
None of us can be sure of the success that will flow from this.”
He added that Congress must take measures to keep families from losing their homes, adding that more intervention in the financial markets may also be required.
The House Rules Committee is still meeting to set rules for floor debate for the stimulus bill, HR 1, and debates and possible votes will likely continue Wednesday.
