Obama Adviser Says U.S. Should Mull Second Stimulus

easymoney

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July 7 (Bloomberg) -- 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 government is facing criticism that the first package was rolled out too slowly and failed to stop unemployment from soaring to the highest in almost 26 years.
Obama said last month that a second package isn’t needed yet, though he expects the jobless rate will exceed 10 percent this year. When Obama signed the first stimulus bill in February, his chief economic advisers forecast it would help hold the rate below 8 percent.
Unemployment increased to 9.5 percent in June, the highest since August 1983. The world’s largest economy has lost about 6.5 million jobs since December 2007.
Tyson, 62, later told reporters that the U.S. can afford to pay for a second package, even as the fiscal deficit soars.
Obama Adviser Says U.S. Should Mull Second Stimulus (Update2) - Bloomberg.com

How is the first, second and third stimulus going for ya'll?
 

swampy tim

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It is slated for existing government programs. Somehow a dollar of government spending results in $1.50 in growth in GDP. I don't know, ask that genius Bidden. S/T
 

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