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Obama "Seriously Considering" Second Stimulus As Unemployment Blasts Through 10%
The Business Insider ^ | 11-03-2009 | Obama "Seriously Considering" Second Stimulus As Unemployment Blasts Through 10%

Posted on 11/03/2009 6:13:36 AM PST by blam

Edited on 11/03/2009 6:22:51 AM PST by Admin Moderator. [history]

Commerce Secretary Gary Locke told Bloomberg TV today that a second economic stimulus is "being hotly discussed and very seriously considered within the administration as well as members of Congress."

Not surprisingly, this news triggered a spasm of backtracking: Locke's spokesman now says he was being "imprecise."


(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; recession; stimulus
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To: indylindy
I would prefer it if this incompetent boob would just step down and get out of the way.

The bench is pretty deep on that team. Would Biden be better? Pelosi would play him like a piano. Reid would pull his string while nancy worked his jaw.

21 posted on 11/03/2009 6:19:49 AM PST by Tenacious 1 (Government For the People - an obviously concealed oxymoron)
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To: blam

This would be to get them through the 2010 elections with billions of portk. No other reason.


22 posted on 11/03/2009 6:20:06 AM PST by Nonstatist
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To: blam

They haven’t even spent most of the first stimulant have they?


23 posted on 11/03/2009 6:22:03 AM PST by GeronL (http://tyrannysentinel.blogspot.com .... I am a rogue nobody. One of millions.)
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To: kittymyrib

I did some rough calculations a few weeks ago and figured out that if just the taxpayers received funds directly from the stimulous and bail out money, the checks (or tax breaks) would have amounted to about $15K per tax payer (per filed taxes that paid the fed).

I wonder how that would have stimulated the economy?


24 posted on 11/03/2009 6:22:49 AM PST by Tenacious 1 (Government For the People - an obviously concealed oxymoron)
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To: freekitty

You bet it is.

They can only estimate by how many are receiving unemployment. Many more out there with no unemployment compensation that cannot be counted accuratley.


25 posted on 11/03/2009 6:22:51 AM PST by Frenchtown Dan
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To: blam

why dont they just take the unspent part of the original stimulus and use it to help create jobs instead of enrich their liberal buds.


26 posted on 11/03/2009 6:23:38 AM PST by TexasFreeper2009 (Obama lied, the economy died)
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To: blam

It’s been said that the definition of insanity is doing the same thing over and over and expecting different results. How much more proof do we need that these people are truly insane.


27 posted on 11/03/2009 6:24:19 AM PST by detective
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To: Tenacious 1

Much more than the money given to AIG that no one seems to know where it went.


28 posted on 11/03/2009 6:24:29 AM PST by Frenchtown Dan
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To: Puppage

They just need more money to pass through the hands of cronies so they can replenish themselves.


29 posted on 11/03/2009 6:24:55 AM PST by mrsmel
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To: blam

A second stimulus? Wow! I never saw that coming!............./projectile sarc


30 posted on 11/03/2009 6:24:58 AM PST by OB1kNOb (As government grows, corruption flows.)
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To: blam
Obama stimulates the economy by creating non-productive, non-sustainable government jobs and spewing free cash to the poor. And let's don't forget the $24,000 per car cash for clunkers program.

I wonder why it didn't work?

31 posted on 11/03/2009 6:26:12 AM PST by SonOfDarkSkies (Rush on Obama: "immature, narcissistic and inexperienced")
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To: jessduntno
Yep, expanding government. And you know how that goes, once bureaucracies are created they never die.
32 posted on 11/03/2009 6:26:26 AM PST by mrsmel
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To: kittymyrib

But that graft and corruption was precisely the point (besides expanding government) for the rats!


33 posted on 11/03/2009 6:27:11 AM PST by mrsmel
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To: blam
He could stimulate the economy very quickly with this simple speech:

I will refuse to sign any health care reform, carbon tax, or other tax increase the rest of my term.

Nobody would believe him, but if he meant it and was believed it would help.

Even if he comes out and says "I guarantee everyone's taxes will go up 20% starting next year" it would help. Uncertainty is going to keep companies from hiring, but if they know what to expect for the next 3 years they can create their growth plan. (most companies do want to grow) Salaries may be lower if taxes are higher, but there will be jobs if companies know what to expect
34 posted on 11/03/2009 6:27:58 AM PST by LostPassword
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To: blam

IMO, the psychology behind it would be that if they passed a 2nd stimilus they would have a “talking point” in the run-up to the 2010 election. They could say during the campaigns that the 2nd stimulus “hasn’t kicked in yet” and “once it kicks in we’ll see improvement in jobs numbers.” They know that if there is no 2nd stimulus to use an excuse for what is GOING to happen (notice I’m not saying the 2nd stimulus will work, just that they’ll say it’s going to work in the future to restore jobs), the 2010 election is going to be a dismal failure for the Dems.


35 posted on 11/03/2009 6:28:55 AM PST by dawn53
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To: blam

What happened to the money from the first stimulus? Deposited into overseas accounts of certain select individuals, I’m sure.


36 posted on 11/03/2009 6:29:34 AM PST by Overtaxed Patriot (Lock and load)
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To: sickoflibs

“Where are those 100 economists that Obama kept telling us said were telling him #1 would create jobs?”

He never named one ;-)


37 posted on 11/03/2009 6:34:27 AM PST by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: SonOfDarkSkies

Plus, Commerce is going to “hire” 1 million people to “work on the census” in the Spring. There’s a million “jobs” right there.


38 posted on 11/03/2009 6:35:18 AM PST by ecomcon
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To: Overtaxed Patriot

“What happened to the money from the first stimulus? Deposited into overseas accounts of certain select individuals, I’m sure.”

You aren’t far off. Where is the 17.5 billion stimulus money that has been parked in New Jersey for close to six months? Bet you can’t find it. Several of us bankers have tried.


39 posted on 11/03/2009 6:36:55 AM PST by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: blam

Sure why not? It’s all play money anyway, now. Just make-believe.

Buy gold, buy lead.


40 posted on 11/03/2009 6:37:01 AM PST by 668 - Neighbor of the Beast ( The only historical figure I admire in his present condition is Jesus.)
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