A second economic stimulus package coming?
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As people are beginning to receive and spend their economic stimulus checks, Democrats are already pushing for a second economic stimulus package. The Congressional Progressive Caucus is working to build support for the second stimulus package, arguing that the first package wasn’t enough. The Clinton campaign is also a strong advocate of such a plan.
The second economic stimulus package would focus more on helping homeowners to avoid foreclosure and provide spending for water projects, bridges, roads, and public transit. All of these would not only provide much needed support for state and federal infrastructure, but would also put people to work by offering more jobs. As a huge advocate for better transit here in the states, I’m all for this, assuming of course it can be funded without forcing our children to pay for our current needs.
Even Republicans aren’t ruling out the possibility of a second stimulus package, but most say it’s still to early to access the impact of the current $168 billion dollar economic stimulus package. President Bush is currently against a second stimulus package. Governors during the recent National Governors Association meeting tried to discuss the second stimulus package with Bush, but reports say he showed no interest. Montana Democratic Gov. Brian Schweitzer does not expect President Bush to go along with a second stimulus package either. “Let me tell you what I heard from President Bush,” said Schweitzer. “He was asked about whether there would be another stimulus package and you know, I guess I’ll sum up 140 words in just a few: ‘That dog don’t hunt’.
What is interesting is that currently $12-$15 billion dollars is going to the war each month, while our infrastructure here at home is really taking a hit. Most Democrats note that more money should be spent here in America. I don’t generally agree with the Democrats, but this is one point I do agree with.
Republicans for the most part seem to prefer going with a tax-cut rather than another stimulus package. Based on current interest and the need to access the impact of the current stimulus package, most politicians think it unlikely that a second stimulus plan would be completed before the memorial day break.
What do you think? Do we need a second stimulus package? How about the first one? Think it is working or will work? Add a comment!
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May 14th, 2008 at 8:54 am
I don’t think we need another stimulus, but I’ll take it. Anything that takes money out of government hands and puts it into the hands of the actual wage earners is a good thing in my book.
May 14th, 2008 at 9:39 am
I’m with Ron. I’ll take a second stimulus check. I’d continue to pay down my debt. Money comes from somewhere, so I’m curious to see how this second stimulus package would be funded.
May 14th, 2008 at 9:40 am
The first one (which I haven’t gotten yet) caused enough unnecessary inflation. A second one would be just plain stupid.
Kind of reminds me of a Futurama episode. Which in turn gives me a good idea for a post.
May 14th, 2008 at 9:45 am
I’d take the money, although i’m not really sure that it would be a great idea. I’d prefer a tax break personally.
May 14th, 2008 at 9:51 am
If the war is costing $12-15 billion each month, isn’t that stimulating the economy? Where is that money going?
May 14th, 2008 at 10:15 am
It may as well be going into a black hole, Matt. It’s doing the exact opposite of stimulating the economy, by inflating the money supply. And it’s not like the higher gas prices partly caused by the war is stimulating the economy.
May 14th, 2008 at 10:25 am
I agree i havent gotten the first one and i doubt the second one would help anyone but stress them out…Inever saw such unorganized people who run a country as what we have today. People are going to be further in the hole before they even get the first one…I would take it but i have my doubts
May 14th, 2008 at 10:31 am
Of course I would take another stimulus but as everyone else, wonders where it will come from and what effects it will have.
May 14th, 2008 at 12:49 pm
No thanks, my tax bill will be high enough next year because of the 1st one without getting more, ahem, “free” money.
May 14th, 2008 at 2:22 pm
Well, I disagree that infrastructure at home is taking a hit. The amount spent on the war, while a lot of money, is still not a *lot* in comparison to all of our other spending.
Since I think the first “stimulus” checks are stupid I of course think a second round would be even more stupid. Permanent tax cuts would rock. And definitely benefit the whole economy. Of course, tax cuts for those who actually pay taxes is the key to this. Not taking money and giving it to those who don’t even pay any federal taxes. *sigh* This whole issue drives me bonkers.
May 14th, 2008 at 4:02 pm
The first rebate we have hardly noticed since it went straight to debt repayment; the same would happen with any other we might receive. I’d much prefer broader based use of any money, used for things having a greater impact over the long run: grants to cities, schools, job training, something like that.
May 14th, 2008 at 9:22 pm
@ castocreations:
You’re looking in the wrong direction, down instead of up. It’s outrageous that multi-billionaires spend less as a percentage of income than middle-class earners. As long as we’re throwing around facts with no reference, I’ll state that tax cuts don’t stimulate the economy, but rather they put more money in the pockets of those who have the most already. Doesn’t seem fair to me…
May 20th, 2008 at 12:26 am
I think that the first stimulus package is being spent to help families catch up on everyday bills, accummulated through everyday living expenses. Let’s face it–300-about 1200 doesn’t really go far, in todays economy.
Perhaps the second check will enable families to buy additional clothing, or perhaps buy a full tank of gas.
If this be the case, then yes, an additional package may be necessary.
May 20th, 2008 at 12:00 pm
If the government would have thought more about when people spend the most money they would have seen a much larger amount go toward actual purchases instead of paying bills and such. If they had sent these checks out around Christmas time my money would have not have gone toward bills but rather gift purchases. I would have felt that I was actually saving money by not charging my purchases.
May 20th, 2008 at 6:37 pm
The problem is most of the people that run the Gov don’t know how to balance a check book. They are only doing this to get your vote and not to help this country.
May 22nd, 2008 at 7:27 pm
I agree with all of you, we dont need a second check, The Gov needs to be doing something better with that money like lowering gas prices or helping out schools in need. If they do decide to send out another check at least make it a more greater amount, some families need more then what they got to help them get by. Our economic system is falling do to high cost and the Gov really needs to step up their game and think about America and send our troops home and end this crazy war. We have enough problems of our own.
May 28th, 2008 at 11:56 pm
I believe every American should receive a SECOND CHECK!!!! We were not able to do what we wanted with the FIRST ONE!!! We did what WE HAD TO DO WITH IT!!!
1. OVER HALF WENT INTO OUR GAS TANKS!!! (THIS IS B.S. TO BEGIN
WITH!)
2. THE REST OF MINE PD SOME BILLS!!
3. I WAS SHORTED $300!!
WE ALL SHOULD HAVE RECEIVED A TOTALLY SEPARATE CHECK FOR GAS ALONE!!
May 29th, 2008 at 12:00 am
I agree with all of you on this page!
June 6th, 2008 at 8:19 pm
Life is hard here in America. I think the government should do everything they can to help out us Americans and stop worrying about other countries. I personally could use a second check and a tax cut. I’ve never been as worried as I am now about the future of our country.
June 7th, 2008 at 12:12 am
I think a tax cut and another check would help. Since everything is going up The money would help with the gas and food prices. And maybe during that time they can work on bringing the price of gas down so that the prices of everything else will come down as well. Another good thing that would help is if the government would get a refinance program going so that people could refinance at a lower rate making them able to save a few hundred or more a month.
June 8th, 2008 at 6:26 pm
what people dont understand is that the second stimulus is not just about receiving a check.Its also about increasing unemployment benefits to those who are out of work due to no fault of their own.I live in Michigan where the unemployment rate is the highest in the United States and when you work for an automotive supplier for 12 years and lose your job and have a 3 year old daughter to support and there is no jobs out there then what do u do when 26 weeks of unemployment runs out.Takes that long to realize that youve wasted your time and maybe you may have to relocate to find work and what do u do that on????If we can spend money supporting a war that means absolutely nothing to us then we can most certainly support our own people here who are paying the true price.Im for a second stimulus 100% and there is alot of people just like me who would love to go back to work and support themselves and their families.If you havent experienced these conditions or know of people who are then how could understand? President Bush who is more concerned with a starving Iraqi than a starving American is very much in the dark about what he has done to this great country.And then to make matters worse he fights every option to help americans get back on track.Vote Obama for president in 08 and lets put Americans 1st for once.
June 12th, 2008 at 4:45 pm
i think people need a second check since we are experiencing some horrific weather factors….where i am flooding extreme flooding and others have fires and tornados i agree with the person who said worry about our country first…sure its ok to help other countries but get ours back in shape first…AMEn
June 14th, 2008 at 4:57 pm
UMMM… Hello people! We need another stimulus package! The gas prices are soaring higher than ever and the next stimulus package would be the tax money we pay each and every week!! That is OUR money…..not the governments.
June 24th, 2008 at 11:56 am
I have heard so many rumours about a second stimulus check by the end of the year… And after reading a couple of others comments I too wonder how the government intends to pay for it? sure the war in Iraq is a key issue but not to many people realize that “we Americans” intend to be there forever thats public Knowledge and yet They don’t want us there Sop says their Leaders… so why are we there again? I seem to have forgotten this point.. Here is the point why aren’t we spending that money in our country here it is wanted and surely needed? I agree a second check would help some.. But to fund forclusres I don’t agree.. why? oh please common sense prevails.. If you really can’t afford it then why did you borrow the money in the first place HMMMM sounds like you wree keeping up with the Jones?….. again… people need to be responsible for their acttions and not expect our leaders to bail us out for oue poor decisions.. Yet the leaders need to do what is right for our country not the rest of the worlds……
June 24th, 2008 at 12:02 pm
and we complain about gas prices? give me a break No I can’t afford it either but did you know credit card companies make about 10 cents a gallon from every purchase cash or credit? why is that? think about the millions of gallons of gas sold every day? hmmmm. and yes we could drill? but opec over a year ago said and I quote. They intend to have oil reach a minimum of $100 dollars a barrel and keep it there,. we were warned.. did we do anything no… as americans we continue to elect politicians who do nothing to help this country and only think of how they can help themselves. Congress needs to be swept clean..
July 13th, 2008 at 3:31 am
I have taken the time to read all the posts, I am not sure what good a second would do since the first came on the tail of my husband having been unemployed for a year,My roommate being unemployed for 7 months. I am the only one working, I have two small children, the price of gas, food and everyday living has caused us to have to get food stamps, the government seems to think that a family of 4 should be able to survive on 800 a month since if you make more then that you don’t qualify for cash aid. My rent was 975 for a three bedroom apartment tell me how I was suppose to survive on 800 even a studio would have cost 700 a month. Some one said we can’t expect the goverment to bail us out of our messes and that we have to take responibility for being irresposible ok, well I really want to know who taught you about credit, and how it worked and what happens to you in the real world my senior year I took a class that was suppose to prepare me for the adult world but it really is a joke, more like a fantasy, I was not told about credit or how it worked other then you are given a certain amount of money to use and you have to pay it back, I was not told that my ex boy friend, exhusband’s debts would haunt me since I am the only one they can find. I was not taught anything, I had to find it out myself and that lesson was and is expensive, I have debts due to not being informed and being taken advantage of and I have barely enough money to keep my head from going under. I don’t expect the goverment to bail me out but I do think that someone needs to educate you before you get thrown into the world that you need to know a lot more then just the basics to make it, you need to learn it all but really I think that for some reason they want people to keep being in debt. Its sad they every decision we making is stressful a tank of gas to get to work and keep making a pay check or milk and food to feed your family… and yet we are spending a fortune in other countries to help their oppressed and poor and being bombarded with charities wanting us to send money to some starving kid in a third world country when we have starving kids in our own neighboorhoods. lastly since there are no jobs my two brother in laws who just graduated from high school will both be joining the military since they have no other options. My roommate too is thinking of going back to the Military.
July 16th, 2008 at 4:52 am
Well- I made $23,647 in ‘07 and have paid my taxes diligently over the years since I entered the workforce. I am a single dad with one dependent- a 4 year old son. Despite the fact that my construction company is failing and I’m in the pre-process of filing bankruptcy, I didn’t qualify for any economic stimulus money. Do I think we need a tax cut or some token amount of money to save us from foreclosure? A little late for me. I’ll lose the house sometime in the next twelve months.
In these coming hard times I’m shutting down my company (which employed 3-11 employees for the past eighteen years and about the same subcontractors at any given time- all of them locally born and raised, incidentally) selling everything, my son and I are moving to the city where I have a job waiting and have family who can watch him during the day, this last year until he enters our substandard public education system. From there I suppose I will continue to watch our government cater to the big money in this country while pretending to listen to their constituency. Why? Because my vote doesn’t mean a thing when the only way you can get on the ballot is to play ball with the big money.
July 17th, 2008 at 10:24 pm
I think a second check may be helpful if people could use it for what they needed the first one for….I used ours to pay for our move. We got a Mobile home for a great price (i know they never gain any worth like a home) but living in an apartment 10 years was really taking a toll on my family and finances. Our home will be paid off in three years, and the second stimulus will be sent by the end of the year from the articles i have read. Which means alot of stressed and strapped for cash families would really appreciate that extra money…..I hope everyone is doing well…I hope we get some relief soon…