Economics

By Edmund L. Andrews


WASHINGTON - For Democratic presidential contenders, the growing risk of a recession is an opportunity for action. For Republican contenders, accustomed to calling for less government intervention, it presents a dilemma.
In the last several days, the leading Democratic rivals have rushed out proposals to spur the economy with one-time tax rebates, expanded unemployment benefits, money to prevent home foreclosures and assistance for state and local governments.
Senator Hillary Rodham Clinton of New York has proposed $70 billion in emergency spending programs, with an additional $40 billion in tax rebates if the economy worsens. Senator Barack Obama of Illinois has a $75 billion plan based largely on immediate tax rebates of $250 to most workers to encourage consumer spending.


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