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The U.S. Chamber of Commerce has thrown its support behind calls for a large economic stimulus plan in light of concern that unemployment rates could soon reach or exceed nine percent.
A recent Washington Post report notes that the Chamber is usually more inclined to advocate less government intervention and spending, but that the current economic conditions have made action necessary.
The newspaper noted that the Chamber, which represents some three million businesses, is pleased that about 40 percent of the Obama economic plan would involve tax relief as well as the plan's emphasis on infrastructure upgrades.
"What we are talking about is a defibrillator. We are trying to shock the economy," Chamber president Tom Donohue was quoted as saying by the Post. Still, he went on to say that the U.S. does not need, nor can it afford, "another New Deal" that could greatly expand the current size of government.
For his part, Obama made his case on Thursday on behalf of his economic plan, warning that the costs of inaction could far outweigh its short-term financial costs by producing a recession of indefinite length.
Chamber of Commerce backs economic stimulus
The U.S. Chamber of Commerce has thrown its support behind calls for a large economic stimulus plan in light of concern that unemployment rates could soon reach or exceed nine percent. A recent Washington Post report notes that the Chamber is usually more inclined to advocate less government intervention and spending, but that the current economic conditions have made action necessary.
The newspaper noted that the Chamber, which represents some three million businesses, is pleased that about 40 percent of the Obama economic plan would involve tax relief as well as the plan's emphasis on infrastructure upgrades.
"What we are talking about is a defibrillator. We are trying to shock the economy," Chamber president Tom Donohue was quoted as saying by the Post. Still, he went on to say that the U.S. does not need, nor can it afford, "another New Deal" that could greatly expand the current size of government.
For his part, Obama made his case on Thursday on behalf of his economic plan, warning that the costs of inaction could far outweigh its short-term financial costs by producing a recession of indefinite length.
