President Clinton is likely to propose $15 billion to $20 billion in new spending and tax breaks "to send a very clear signal" that he is serious about reviving the economy, a top aide said Tuesday.
Labor Secretary Robert Reich said the final decision on a stimulus package would not be made until right before Clinton makes the announcement to allow the administration to evaluate the latest data on how the economy is performing.But he indicated on ABC's "Good Morning America" that a package likely would be "in the range of $15 billion to $20 billion if there is going to be a stimulus package, and I think there probably will be a stimulus package."
Reich conceded that in relation to a $6 trillion economy, such an amount would be very small, but he said "it does send a very clear signal that we have to get the growth back, we have to get the economy back on track."
In answer to critics who worry that a Democratic Congress and a Democratic president will inflate already huge budget deficits, Reich said the short-term growth package has to be linked to a long-term effort to reduce deficits once the economy is stronger.