Sen. Charles Schumer (D-N.Y.) on Sunday said an economic recovery plan would have to cost $500 to $700 billion in order to be effective. Noting that the economy is in “serious, serious trouble,” Schumer said on ABC’s “This Week with George Stephanopoulos” that a recovery plan would need to be “pretty big.” “We’re on the edge of deflation. Once you get into deflation, you almost never get out. That’s what the Great Depression taught us. That’s what Japan taught us,” Schumer said. “So a strong shot in the arm, just the way Barack Obama has conceived it, infrastructure, green jobs,...
