In an interview with ABC's "This Week," Schumer said, "I believe we need a pretty big package here." He added that Congress is working on getting the economic package to President-elect Barack Obama by Inauguration Day. "I think it has to be deep. In my view, it has to be between $500 and $700 billion, and that's because our economy is in serious, serious trouble."
"It's a little like having a new New Deal, but you have to do it before the Depression. Not after," Schumer added.