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  • Another Stimulus Bill?

    Pelosi: Congress Needs to 'Keep the Door Open' to Another Stimulus Package
    House Speaker Nancy Pelosi says Congress needs to "keep the door open" to another stimulus package.


    House Speaker Nancy Pelosi said Tuesday that Congress needs to "keep the door open" to a another stimulus package -- raising the question of how much the government could eventually spend on top of the $787 billion already allocated to rescue the country from dire economic straits.

    "The word of the day is confidence. Confidence in our markets, confidence in lending, confidence in our financial institutions," Pelosi said before suggesting the need for another rescue package during a press conference Tuesday following a meeting with top economists.

    Mark Zandi, chief economist and founder of Moody's Economy, took a more definitive stance than Pelosi, telling reporters a second stimulus bill is necessary.

    "We are going to need more taxpayer money ... I think another stimulus package is a reasonable assumption because of the way things are going," Zandi said.

    The Obama administration has not ruled out supporting a second stimulus package -- should the current bill prove insufficient -- but it has not indicated a second bill is currently in the making either. President Bush and Congress also agreed to a smaller stimulus package last year.

    White House Press Secretary Robert Gibbs told reporters on Feb. 17 that Obama "is going to do what's necessary to grow this economy." While "there are no particular plans at this point for a second stimulus package," he added, "I wouldn't foreclose it."

    But Allen Sinai, the chief global economist at Decision Economics Inc. who was also present at Tuesday's meeting, disagreed over the need for another rescue bill, telling reporters that more patience is necessary.

    "Nobody should expect miracles ... quick results," Sinai said. "Patience doesn't always look good ... you have to wait."
    "Be Excellent to Each Other"

  • #2
    Just what we need...another gob of OUR money given to government agencies to fund the jobs they will create in order to allow them to raise taxes even more.

    Handing out money isn't going to solve anything. If we keep throwing money out there, it's going to continue to be spent on more government agencies who will hire government employees, to do jobs that are primarily government related. When the bridge is built, the job goes away.
    "Reject the basic assumptions of civilization, especially the importance of material possessions." "The things you own end up owning you"-Tyler Durden

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    • #3
      I agree with you on the throwing away of PET PROJECTS Visine. But I had a guy in my office just return from DC yesterday. Don't worry about any of the Stimulie' money going to Bridges anytime soon. They are not going to release it untill September, if they release any at all. Understand all of this money is suppose to come from fuel tax. The feds keep robbing it and spending it else where. My company is the 2nd largest bridge fabricator in the USA. We have 6 fabrication plants and we employ alot of people. We would do fine if they just spend the fuel tax money on highways and bridges like they are supposed to. States put up their Fuel tax money, feds match it. Contract are awarded to the private sector via Bids. Low bidder gets the contract. We have been scratching for years and the bridges are falling down. PF
      "And with a collection of minds and talent, they survived"

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      • #4
        I think what that Bair woman (FDIC) said is how they all actually think, "We can't run out of money," BECAUSE they will continue to print it. Forget that it will be worthless! :rolleyes: They are like a kid in the candy store with a $100 bill in their pocket.

        They won't be happy until we are ALL slaves to the government. :mad:

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        • #5
          TARP made me sick and BHOs "stimulus" bill made me angry. I would become either violently sick or violently angry if there were to be another. I just saw on FOX news that some of the banks that received the TARP money have sent billions overseas to Dubai and some other middle east country.
          You have got to be kidding me!!
          My opinion is that the federal government spending (stimulus) effort to derail the recession is completely out of control. Banks that received TARP funds have not increased lending, they have done just the opposite.
          Let the banks and companies fail; that happens with a free market, capitalist economy. Others will rise in their place... it takes time and it can be painful for many families.
          We have put our great, great granchildren in debt. The nation I love is grasping at socialist straws, choosing the easy wrong over the hard right, and it makes me sick.
          I will stop now, I am seeing red.:mad:
          LH

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