Obama Adviser Pushes For a Second Stimulus Bill
Last weekend on “Face the Nation” Joe Biden admitted that the administration screwed up and that President Obama “misread the economy.”
This was the second time that he has claimed that the Obama administration screwed up in regards to the economy and the failed stimulus package. Previously, while on “Meet the Press,” Biden claimed that “everyone guessed wrong” on the economy. (It is nice to know that the administration was guessing on something as important as the nation’s economy, isn’t it?)
But others in the administration are making excuses for the failed stimulus bill, claiming that the effects of the stimulus bill will be felt any day now and that they always knew there would be no results for several months.
While all of this is going on we have the administration saying that only a fraction of the stimulus money has been spent and that we need to be patient as all of this takes time, yet during Biden’s “Face the Nation” interview he refused to rule out a second stimulus bill. He refused to rule it out even as he was saying that it was to early to judge the effect of this stimulus bill.
And now we have an adviser to President Obama urging the administration to consider a second stimulus bill, claiming that the first stimulus bill was too small. How Laura Tyson can make that call is confounding when the first stimulus bill hasn’t even been spent yet. If indeed the first stimulus bill would take months to show signs of improvement in the economy this statement seems premature.
Those who do not learn from history are doomed to repeat it. The stimulus bill is failed policy, the administration must be forecasting continued failure or there would be no second stimulus talk, and we are beginning to hear talk about repeating the failed $700 trillion mistake. It would seem that some in the Obama administration have not learned from the very recent history of the failed stimulus bill. Or they just want to spend more money.
If at first you don’t succeed…
Trackbacks
- The Bamster’s Approval Index Has Dropped 2 More Points to Minus 5 « Frugal Café Blog Zone
- Jon Stewart: That’s Great, Obama… Now Fix the Economy! (video) « Frugal Café Blog Zone
- The Obama Limbo! How Low Can It Go… BHO’s Approval Rating Has Dropped Another 3 Points to -8 « Frugal Café Blog Zone
- Tax Dollars Down the Dumper for Turtles: $3.4 Million of Stimulus Money Slotted for Building 1 Turtle Tunnel « Frugal Café Blog Zone
- Tax Dollars Down the Dumper for Turtles: $3.4 Million of Stimulus Money Slotted for Building 1 Turtle Tunnel « Frugal Café Blog Zone
- Washington Just Doesn’t Get It… Throwing More Money into a Second Porkulus Bill Won’t Fix the Economy « Frugal Café Blog Zone
- Strong-Arming Arizona Like Chicago Thugs: Sen. Kyl Dares to Criticize Porkulus Bill, Obama Administration Threatens “Put Up or Shut Up” « Frugal Café Blog Zone
- Obama’s Recession: Racial Gap Growing, No End in Sight — Unemployed NYC Blacks’ Numbers Increasing at Alarming Rate « Frugal Café Blog Zone
America's Watchtower 
This really should not be any surprise, there were a lot of economists saying that it was too small when it was passed. I think it would have worked if the democrats did not just throw together all of their spending wish list items in a bill and called it stimulus. I doubt that there will be a second stimulus as the banks who have received the wolf’s share of the money will oppose it.
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That is exactly what the first stimulus bill was; a wishlist of spending disguised as stimulus. I hope you are right about the second stimulus not passing. At least spend the first on and then talk about a second one.
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Any day now? LOL. I’m not holding my breath.
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