David Kirkpatrick

July 7, 2009

Get ready for another stimulus package

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 3:03 pm

Bush threw some federal money at the economic downturn and Obama added a large stimulus package. Even as the ink was drying on Obama’s stimulus it was assumed another round of federal money would be necessary and expected, unfortunately that fact did not get reported on all that much. It’ll be interesting to see how the general public reacts to a second stimulus to try and goose this recession.

From the link:

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.

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