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Tuesday, July 7, 2009

Second Stimulus Debate

The Obama Administration can’t seem to figure out if the “stimulus” package is working, or if a second is needed. Just two days after Vice President Biden said the Administration “misread the economy” a White House economic adviser says the February “stimulus” may not be enough. Bloomberg reported:

The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an outside adviser to President Barack Obama.

The current plan “will have a positive effect, but the real economy is a sicker patient,” Tyson said in a speech in Singapore today. The package will have a more pronounced impact in the third and fourth quarters, she added, stressing that she was speaking for herself and not the administration.

A New Rasmussen Poll released today says that 68% of Americans think there should be another “stimulus” package, see the video here.

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