Clinton Proposes $70 Billion To Stimulate Economy

AIMING TO AVERT A RECESSION

Clinton Proposes $70 Billion To Stimulate Economy

CITY OF COMMERCE, Calif. -- Hillary Clinton brought the slumping economy to the center of her presidential campaign Friday, proposing a $70 billion stimulus package aimed at forestalling a recession by suspending foreclosures on subprime home loans and helping millions of households pay heating bills.

In a speech laced with facts but premised on emotion, Clinton said the proposal was rooted in the experience of voters, whose economic concerns have become the focus of her campaign since her come-from-behind victory in New Hampshire on Tuesday.

"I hear all of the voices of America. And one particular question that I hear a lot about today is: What's happening with the economy? Where are we?" the New York Democrat told a handpicked crowd at an electrical union training facility in this Los Angeles County municipality.

"You know, this economy may be working for some people, but it sure isn't working for everybody. And part of what we've got to decide is whether we're just going to allow this economy to slip into recession."

Clinton said she would inject money into an economy shaken by defaults of high-risk subprime loans. Her proposal calls for $30 billion to states and localities, $25 billion to help 37 million families pay heating bills, $10 billion to extend unemployment insurance, and $5 billion to encourage energy efficient technologies.

"You know, the economists can argue about it," Clinton said of whether the country is headed for a recession. "Some say, yes, it's going there. Some say, not yet. Some say, oh, no. But the statistics are one thing, the stories are something altogether different."

Clinton said later: "It doesn't matter what you're told. It's what you feel, what you feel deep down."

The invited audience included Franz Triarte, 48, who said he had just lost his customer service job at Verizon. "Downsizing," he said he was told.

"She's facing the real issue here, the real issues that we have," said Triarte, a native of Bolivia. "It seems like we're going into recession. It's a result of how poorly the economy was handled."

Standing nearby was Billy Tostado, 42, a City of Commerce municipal employee who on Friday mornings is usually out painting over graffiti. But he and his co-workers -- "we're about 10 strong" -- were happy to be at the Clinton event.

"Our conversations in our break room are about her," he said. "I would say she's got about 90 percent of my vote right now."