Obama already putting feelers out for 2nd stimulus

Laura Tyson, a member of Obama’s Economic Recovery Board, said the US should consider drafting a second stimulus package focusing on infrastructure projects in a speech in Singapore.  She said that these were her views and not those of the administration.  But let me tell you that nothing done or said by a politician of Obama’s stature is by accident, unless it is said by Biden of course.  They are putting out feelers through an advisor to determine if they can get it done.  Ms. Tyson’s comments are very revealing though.  First it shows that simply being an economic expert does not make you very intelligent.  Advising more debt when you are already running record deficits makes as much sense as deciding to buy new rims for your car right after losing your job.  Especially considering how well the first stimulus is going.  This statement also shows that the first stimulus was more about liberal agenda than economic growth.  She emphasized that it should concentrate on infrastructure projects.  If you remember, this was one of Obama’s main talking points for the first stimulus.  But those of you who read the legislation know that a disproportionately low amount of the stimulus went to these projects.  The majority of the money went to expand our welfare state, obliterating 10 years of welfare reforms along the way.  So the question has to be asked.  If a major point of emphasis was infrastructure before, then why do they need more funds?  Is it maybe because the first stimulus did not really fund what they said it would fund?  I would say that is a good question and one that more than likely will never be answered.

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Tagged as: stimulus