For Obama, White House Keys Could Come With License To Spend

washingtonpost.com — When President-elect Barack Obama moves into the White House in January, he will inherit a stratospheric budget deficit, a collapsing financial system and the gloomiest economic outlook since the Great Depression. The silver lining? For a few months, at least, he may have a license to spend money.

Make that lots and lots of money. With the nation sliding into what is expected to be a severe recession, economists are calling on the federal government to pump at least $150 billion -- and as much as $500 billion -- into the economy to blunt the most painful effects of rising joblessness and stalled consumer spending.