Posted on 07/07/2009 3:42:29 PM PDT by FromLori
The United States should be planning for a possible second round of fiscal stimulus to further prop up the economy after the $787 billion rescue package launched in February, an adviser to President Barack Obama said.
"We should be planning on a contingency basis for a second round of stimulus," Laura D'Andrea Tyson, a member of the panel advising President Barack Obama on tackling the economic crisis, said on Tuesday.
Addressing a seminar in Singapore, Tyson said she felt the first round of stimulus aimed to prop up the economy had been slightly smaller than she would have liked and that a possible second round should be directed at infrastructure investment.
"The stimulus is performing close to expectations but not in timing," Tyson said, referring to the slow pace at which the first round of stimulus had been spent on the economy.
Tyson, who is a dean of the Haas School of Business at University of California, Berkeley and was also a White House economic adviser to former President Bill Clinton, said an additional factor affecting the stimulus was that the economy was in a far worse shape than the administration had estimated.
INFLATION NOT A CONCERN
Tyson dispelled concerns about the ballooning U.S. fiscal deficit that is estimated to hit nearly 10 percent of gross domestic product, and its possible inflationary consequences.
"The Federal Reserve is not going to allow the U.S. to inflate away its debt," she said.
(Excerpt) Read more at moneynews.newsmax.com ...
Sure like Dems need another hole in their heads....Well Ok maybe a bad example................
We’re going to need a bigger money-printer.
Yes, if at first you don’t succeed, try, try again.
Now will be in debt for hundreds of years.
I do not think he will get a second bite of the apple. The first one was a complete failure.
They WANT us in a Depression we’ll never get out of.
Forgive me, radishes, for this unfortunate comparison but....these people are dumb as radishes. Either that, or pure evil.
Further? How much propping up did the first stimulus do?
Either that, or pure evil.
________________________
They are PURE >DAMNED< Evil.
The libs needing a second stimulus just prove Einstein correct when he said “The definition of insanity is doing the same thing over and over and expecting different results.”
The first didn’t work, so they ask for another. Only a liberal could think this way.
Whenever liberal laws fail, as they always do, liberals always demand a strengthening of the failed laws. The strengthened laws then fail in their turn.
The President needs to look at confirming the Bush tax cuts, increasing tax cuts for employers, and extending tax cuts for capital investments.
Giving money away in one shot deals to help people make one or two payments on their mortgage is like a band-aid. It doesn’t take long for such short term patches to get old and stale.
(But Obama knows that that’s what people want... free money.)
The good news is that when they finally wreck the ship completely the “spend us into prosperity” philosophy will be dead....or at least no longer possible to do.
I thought it was:
“If at first you don’t succeed, call an airstrike.”
Under normal circumstances, yes, but this 0 we’re talking about. I mean, if it were up to TOTUS, perhaps;)
I wish I was in the ink and paper business, I’d be rich.
“The Federal Reserve is not going to allow the U.S. to inflate away its debt,” she said.
In other words your dollar will be worthless, but it still won’t get you out of paying back the debt.
Obama’s Creed:
If it is moving right along, tax it
If it is still moving, tax it more.
If it still moves a bit, regulate it.
If it stops moving, subsidize it.
They misread the economy. Then they refused to read the stimulus bill.
Now they want to do it again.
I sense a revolution coming.
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