Posted on 07/06/2009 1:25:02 AM PDT by FromLori
Paul Krugman gets his wish.
So did Joe Biden just pull another "Biden" with his line this morning about "misreading" how bad the economy was?
Some folks in the White House may chalk it up to "Joe being Joe," but make no mistake, the administration is laying the groundwork for the second stimulus.
We predicted on Thursday, after the weak jobs report, that the second stimulus was no definitely on its way. The very next day, Paul Krugman, a reliable thermometer for establishment thinking, chimed in and said we must do a second, bigger stimulus.
So when you have Joe Biden saying "we misread how bad the economy was" -- despite the fact that we stave off an outright collapse -- what else could he possibly be talking, other than: 'it's time to do a second stimulus'?
So how will this be sold politically? Here's a guess. The administration and Congress will argue (correctly) that the first stimulus wasn't actually a stimulus, but was mainly an expansion of various benefits and transfer payments. Stuff like that. This time, they'll say, those gargantuan stimulus projects will be the priority, and they'll say that the original stimulus demonstrated an enormous demand for cash to fund infrastructure projects, all around the country.
The question then, is timing. Our guess is October.
(Excerpt) Read more at businessinsider.com ...
Will they send ne a check?
They were supposed to come out in May.
Haven’t gotten one and don’t expect to even though it would help pay for all the Zantac and Maalox I’ve been consuming since November,
i hope so, the sooner they send the government bankrupt the better
Never should have had any bailouts to begin with.
Albert Einstein once said “The definition of insanity is doing the same thing over and over again and expecting different results”.
With the Stimulus money going to balance the budget here in MI, maybe they can actually use some of the 2nd batch for pot-hole repair....
Or, more loans to GM, Chrysler, or Kalipornia!
(sarc/off)
Joe Biden saying “we misread how bad the economy was”
.
So they now are as smart as McCain on economics, and are not going to raise anyone’s taxes in a recession???
“So they now are as smart as McCain on economics, and are not going to raise anyone’s taxes in a recession???”
It’s hard to sell an ideologue anything that runs counter to their belief system, irrespective of the truth. What they don’t understand is that the more they spend and the more they put us into debt as a nation, the less confidence there is in the system, and the less commerce there will be. Expecting consumers to revive the economy at a time when they are looking at looming tax increases, runaway national debt, collapse and nationalization of huge private sector companies AND banks, lower equity on their homes, decimation of their 401K, an end to traditional tax deductions, rising fuel prices, potentially higher utility costs because of Cap and Trade, the costs of a proposed huge new government bureaucracy for health care, and maybe inflation, is absolutely absurd. Thinking that spending even more money we don’t have on more government TARP giveaways is even more absurd.
He just says the darndest things.
It’s clear that the ‘Bama is using America’s economic crisis to sink the fangs of socialism into our financial and manufacturing institutions, but one might start to wonder if he envisions some sort of political advantage in decimating the dollar and demolishing our standard of living. There’s no other rational explanation.
Do you ever wonder why no one ever asks: "Has there ever been in the history of mankind a government (foreign, domestic, state, or local) that has borrowed or spent their way out of debt"? Please name that government.
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