Waiting for Obama: What We Might Expect

The Bush administration has already committed close to $4 trillion to its efforts to restore the health of the U.S. financial system and dampen the impact of the recession on the American people. That amount will grow even larger once Barack Obama takes over the presidency in January. Obama has already said he wants a stimulus package put in place as soon as he takes office—one that will not only address the immediate crisis but also set the stage for long-term, sustained economic growth. The cost of such a package will be staggering and will have a long-term effect on the U.S. deficit. This briefing looks at the costs and the implications for the U.S. and for Canada.