A second economic stimulus package coming?
Photo by: SeÃ±or Codo
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!