INSTANT VIEW 3: White House economic stimulus 1.0 pct of GDP

NEW YORK (Reuters) - U.S. President George W. Bush on Friday plans to call for an economic stimulus package equal to about 1.0 percent of U.S. gross domestic product, according to a White House document obtained by Reuters.

The document, which was circulated to lawmakers, also urges that the plan focus on tax cuts for individuals and businesses rather than expanding federal government spending.

COMMENTS:

IAN LYNGEN, INTEREST RATE STRATEGIST, RBS GREENWICH CAPITAL,

GREENWICH, CONNECTICUT:

"It's $130 billion, which was in the range of what people were expecting. Both of which, the size and focus on tax cuts, are consistent with what I think the vast majority of the market was looking for, particularly in the context of what happened last time this became an issue.

"They are announcing the principles of a stimulus package but it feels like there are details that are left to be decided.

"Unless it is, 'We are going to do X, the market believes it's really impressive and it's a sure deal,' I think that there is going to be a little bit of reluctance to think that the problems facing the economy are behind us."

"Maybe, maybe it's conceivable that whoever they decide should get some type of tax relief gets it maybe at the end of the second quarter or beginning of the third quarter. Maybe sometime in 2008. What's that going to do to this economy?"

OWEN FITZPATRICK, HEAD OF U.S. EQUITY GROUP, DEUTSCHE BANK

PRIVATE WEALTH MANAGEMENT, NEW YORK:

"It all hits at once, and it's not something that's lasting. The (stock) market is looking for something that will have more of a lasting impact on the tax structure. The last time we had one of these, it did help the economy, but it would just be a one-time event.

"The market is really looking for some action out of the Fed."

PETER KENNY, MANAGING DIRECTOR, KNIGHT EQUITY MARKETS, JERSEY

CITY, NEW JERSEY: