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Ohio and Four Other Governors Present $1 Trillion Bailout Proposal

Five Democratic governors including Ohio Gov. Ted Strickland are asking the federal government for a $1 trillion bailout package.

The package includes $250 billion for education and $150 billion in middle class tax cuts.

The governors from Ohio, Wisconsin, Massachusetts, New Jersey and New York have presented their plan to President-elect Barack Obama's transition team as well as congressional leaders.

The governors say that that level of federal aid is needed to deal with unprecedented state budget shortfalls in 41 states and Washington, D.C..

Wisconsin Gov. Jim Doyle say congressional leaders and the Obama team have been receptive to the governors' ideas.

(Copyright 2009 by The Associated Press. All Rights Reserved.)