Congressional Budget Office director Peter Orszag said Tuesday that the $165 billion stimulus package that has begun to be released represents a “huge amount of stimulus” over a fairly concentrated time period.

Speaking at the Milken Global Conference in Los Angeles, Orszag said the U.S. is “very likely” going through a period of “negative growth.” He said the stimulus package will provide “a very substantial amount of money in a very short period of time.”

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