Obama package smaller than expected

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Obama team dismisses reports of trillion dollar stimulus

ByJessica Yellin

(CNN) – An Obama transition official says reports that the president-elect will release a stimulus plan with a trillion-dollar price tag are overblown, and that the actual figure being discussed is far smaller.

Some outside economists have pushed the trillion-dollar figure. One recent report suggested the transition team was working with an $850 billion plan. But this official describes the amount Obama advisors are currently considering as significantly lower than both.
Obama and his economic team met for four hours yesterday. They are still working on the package, which will not be announced before the president-elect returns from Hawaii later this month.