Bush Open to Economic Stimulus Package Bigger Than $150 Billion

Bush Open to Economic Stimulus Package Bigger Than $150 Billion

Jan. 22 (Bloomberg) -- The White House today left the door open for a larger stimulus package than the $150 billion effort announced so far to avert a recession.

``I've not heard anybody suggesting larger than 1 percent, but that doesn't mean, behind closed doors in their negotiating discussions they aren't bringing that up,'' White House press secretary Dana Perino said.

President George W. Bush has proposed a fiscal-stimulus package of as much as $150 billion, or about 1 percent of the gross domestic product. Treasury Secretary Henry Paulson said the package, which may include tax rebates to low-and middle income people and tax breaks for business, ``must be enacted quickly.''

Bush is scheduled to meet with lawmakers on the proposal later today at the White House.

``I'm not going to close the door, but I'm not suggesting that anyone believes it has to be bigger than that,'' Perino said.

Perino said Bush has ``absolute confidence'' in Federal Reserve Chairman Ben S. Bernanke and is not forecasting a recession. ``Clearly there is a slowdown,'' Perino told reporters.

BLOOMBERG