"You have to look at this bill as not a salvation for the economy by any means. It is simply the largest effort by any legislative body on the planet to try to take government action to prevent economic catastrophe, and even that may be insufficient."
-- House Appropriations Committee chairman David Obey, Democrat of Wisconsin, at a news conference Thursday. House Democrats unveiled a $825 billion stimulus package that calls for $550 billion in spending and $275 billion in tax cuts. Even that may not be enough, in Obey's view, but without it, the U.S. would face a disastrous recession and 12% unemployment. Developed in partnership with Obama's top aides, the American Recovery and Reinvestment bill looks to be the most expensive spending plan Congress has ever proposed.
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Pattie Sellers has written some of Fortune's most talked-about cover stories, including "Oprah's Next Act," "Can Meg Whitman Save California?" "The $100 Billion Woman" (Melinda Gates), "MySpace Cowboys," Martha Stewart ("I cannot be destroyed"), Ted Turner ("Gone with the Wind") and Oprah Winfrey ("Oprah Inc."). Since its launch in 1998, Pattie has helped oversee Fortune's "Most Powerful Women" cover package.
A specialist at dissecting larger-than-life personalities, she has also profiled former U.S. Treasury Secretary Hank Paulson, Morgan Stanley chairman John Mack, and countless CEOs.
Pattie co-chairs the annual Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business, philanthropy, government, academia, and the arts. She started at Fortune in 1984, covering the big brand companies.
In Pattie's blog, Postcards, she provides insight into the lives of super-achievers through commentary, career advice, and Guest Posts by CEOs and other leaders.
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Fortune Most Powerful Women
Sheryl Sandberg:
Gina Bianchini
