(January 07, 2009)—President-elect Barack Obama is expected to release details surrounding his economic stimulus plan Wednesday.

While it is not known if a report released Tuesday by the Federal Reserve outlining bleak economic predictions tie into the president-elect’s announcement, Obama says Americans will accept his proposed economic stimulus plan, but only if they believe the money is being used wisely.

Obama vows to ban all earmarks from the recovery package and appoint a chief performance officer to set government performance standards.

Even without earmarks, the president-elect's stimulus package is expected to cost nearly 800 billion dollars.