A second economic stimulus package coming?

By glblguy

Public Transit
Photo by: Señor 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!


42 Responses (including trackbacks) to “A second economic stimulus package coming?”

  1. Ron@TheWisdomJournal Says:

    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.

  2. Laura Says:

    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.

  3. Jake Stichler Says:

    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.

  4. Pete Says:

    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.

  5. Matt Says:

    If the war is costing $12-15 billion each month, isn’t that stimulating the economy? Where is that money going?

  6. Jake Stichler Says:

    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.

  7. Trina Says:

    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

  8. Vincci Says:

    Of course I would take another stimulus but as everyone else, wonders where it will come from and what effects it will have.

  9. David Says:

    No thanks, my tax bill will be high enough next year because of the 1st one without getting more, ahem, “free” money. :-)

  10. castocreations Says:

    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.

  11. stngy1 Says:

    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.

  12. MITBeta @ Don't Feed The Alligators Says:

    @ 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…

  13. sharon Says:

    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.

  14. Clayton Says:

    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.

  15. Walter Says:

    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.

  16. LaLa06 Says:

    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.

  17. Diamondaries414 Says:

    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!!

  18. Diamondaries414 Says:

    I agree with all of you on this page!

  19. Lesli Says:

    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.

  20. Sylvia Says:

    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.

  21. mario Says:

    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.

  22. Trina Says:

    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

  23. Rippy Says:

    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.

  24. Dale Says:

    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……

  25. Dale Says:

    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..

  26. Nicole Says:

    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.

  27. George Thompson Says:

    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.

  28. Trina Says:

    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…

  29. Aweie Says:

    I think the average family at this point is dependent on a second stimulus package. I personally make 9.50 an hour and my fiance almost 11.00. We have a 300.00 house payment which is pretty low but yet the cost of gas is so outrageous that a chevy lumina takes 50.00 to fill. We live in a small town and employment is approximately 25 miles for him. That is three tanks of gas every two weeks. I could find much more to do with 150.00 than put it in my gas tank. As all of us average people, we have bills, have to eat, and yes either have full time employment or would love to have it, yet we see ourselves slowly digging ourselves deeper and deeper due to the economy. I am an American Indian and I have heard stories from past generations: there were never politicians back then that needed 6 digit paychecks. Everyone had their jobs and everyone worked together. If I had my choice I think I would rather have lived back in that day. You reap the sense of “a job well done” and have respect for the others that did their job. I don’t have respect for the politicians we have today, cost the average, help the rich….bass ackwards, dont you think?

    Here’s a thought! Help the people in America, that belong here (US citizens) and once everyone is on solid ground, then move on to help others.

  30. Manny Says:

    “If the government would create a law in which the immigrants would have to pay a fine for coming here illegally I’m sure many would love to come foward and pay the fine so they can get a job with insurance and pay there taxes. With the fine being pay our us government can pay off some of our countries debt. Then they would get jobs pay their taxes. Then they could buy home and help the economy. Instead of sending all these fathers or mothers home and hurting the children and putting the family in poverty. I see so many more people going on aid do to missing parents. Then you see the children getting on welfare. I would say only US citizens and can any kind of government assistance (public aid, housing, soc security)

  31. ILLINOIS HAS THE HIGHEST UNEMPLOYMENT IN USA Says:

    DO YOU KNOW WHICH STATE HAS THE HIGHEST UNEMPLOYMENT ????

    ……………ILLINOIS ……………..

  32. Enough blame to go around . Says:

    Blame U.S. Companies for the economy , why ,because they sent all there business overseas , and lay people off , that’s one reason by , we’re in a recession . President Bush is another fault why we’re in bad situation because of these nonsense wars costing Billions of dollars , by the end of year 2008 it will cost taxpayers $100 BILLION DOLLARS , if they want to waste money send it to the REAL taxpayers , instead of $300 or $1200 per family / person , heck give us $10,000 each . This way we could use it for food , gasoline , and anything else that is needed. This is a NEED not want .

  33. mario Says:

    and to the person who states illinois has the highest unemployment rate.i believe illinois ins #4 or #5.Michigan still remains number 1 at 8.5%

  34. voice of reason Says:

    Well if that’s the case then equal blame needs to be placed on our system of coddling and protecting employees to the point that companies can no longer afford to employ them. And let’s not forget how litigious our society is- dubious injury claims and trumped up sexual harassment charges don’t exactly encourage employers to hire in the U.S.

    The surfboard industry (and many other plastic manufacturers) have mostly moved their operations to China because the U.S. has such stringent regulations about toxic chemicals that it’s actually cheaper to build the stuff elsewhere and ship it thousands of miles. And of course the Chinese employees probably don’t get paid vacations or sick leave.

  35. Not true American workers aren't lazy ...."not true " Says:

    Aweie,, It’s all man for thereselves . Bush is getting as much money in his bank acct before he leaves office , he hasn’t done one thing for the TRUE AMERICANS IN UNITED STATES.

    I have to fill up my car every 4th day , just to drive , 100 miles a day (round trip ) . Just a car I drive . Around here there’s “thousands of people laid off ” Companies are moving out , going to foreign countries , Soon I have to travel to Mexico just to have a job ( for real ) because you can’t found a job that easy . United State Companies are TRAITORS . They should be fined.

    There are over 8 million people out of a job , tell me where , they will found a job ???? If you’ve a Degree many jobs I seen are only paying $10.00 – $13.00 an hour , that’s with a B.A . yes you read this correctly.

    Once the college student graduations , they’re having a hard time founding a job . It’s not as easy as people seems . For those who has a job , better hold on to it , because foreigners will steal it from you ….they said AMERICANS ARE LAZY , Americans aren’t lazy , the foreigners want you to believe it , which isnt true .

    I know people including myself who would work 12 – 14 hour aday , 7 days aweek , at that time , there was alot of work , now , you’re lucky if these companies going to keep you .

    Many companies doesnt give you a Pink Slip , like Ford they told there employees on Email , any of them didn’t know till other employees called them.

    It’s only going to get worse ,,,,

  36. voice of reason Says:

    Time to cut back on the ridiculous luxuries. Most of the rest of the world don’t have a middle class that enjoys luxuries like suburban homes with plasma screen TVs and a Harley in the garage, a gas guzzling SUV that has never toughed a dirt road. Our country is spoiled, complacent and out of touch. We’ve let our government cater to the rich while we were pacified with shiny trinkets that work like carrots on sticks. Our media is a joke and our people are becoming more and more dumb. The uber-riche have been sticking it to us as much as possible, desperate to hoard every bit they can anticipating the next big depression.

    In short- we’re screwed. Time to wake up and take the country back.

  37. If you want anything work hard for it Says:

    mario…..I realize Michigan is high (unemployment ) , I work with men who’s from Michigan , ( Auburn Hills area ) . Illinois in the same situation as Michigan , lack of work . Companies moving overseas , selling Americans out of a job .

    I keep hearing “Americans are spoiled ” , I wished I was , but not true, in my situation , if I want anything I have to work
    hard , I don’t get NOTHING for Free .

    I’m in the process of looking for a second job, closer to home
    if possible .

  38. foreigners are racist who they hire Says:

    True Americans should take there country back , but the foreigners are buying up the 7-11 stores , gas stations , etccc.
    There’s about 10 gas stations / store , foreigners own them .
    Sad part , they will not hire americans to work there , just
    there family , isn’t that racism / Discrimination .

  39. foreigners are racist who they wont hire Says:

    Who they wont hire ….that’s discrimination

  40. mario Says:

    also to the automotive manufacturers who are facing hard times i feel absolutely no remorse.when the people who produce these vehicles cannot afford to purchase them then obviously that is a concern.a business purpose is to provide a service or product yet maintain a profit..but to the extent that the they have been profiting for all these years is ridiculous..i worked for a plastic automotive parts supplier for chryler,gm,and ford,an hour away from my home making 13 dollars an hour doing shipping and recieving after 12 years.thats spending on average 100 bucks a week for gas per week.try paying rent and utilities and taking care of family on whats left.these are real world situations that we face each and everyday.I left that job late last year it was one of the biggest automotive plastics parts suppliers in the US and it now is bankrupt and due to close probably early next month citing gas prices driving up the price of plastic resin(plastic derives from oil) anyhow i have vowed to never purchase another american made vehicle as long as i live..We are more concerned with profit and producing quanity instead of a quality product that will last..a 36000 mile warranty is about as long as a vehicle is made to last..buy foreign and get your moneys worth until we can lower the prices of these vehicles to what they are worth and yet still be profitable to the manufacture.we need to send a message to these people that if those who make it cant afford to purchase it then something needs to be done

  41. mario Says:

    a to the people who are stereotyping foreigners i have absolutely no problem with them if they are here legally but the problem seems to be that we focus more how to ensure that an illegal doesnt get a stimulus check than sending the illegals home where they belong.we need tighter regulations on who comes to this country and how many.if cant support our own with jobs then why allow people in to furthur hurt ourselves and yet do nothing about the endless supply of illegals coming here everyday.if we made regulations to fine or threaten to put the people who employ them out of business then we could solve the problems and open up positions for the people who are rightfully here so that they can support their families.imagine how many jobs would open up if we did something about this problem instead of sweeping it under the rug.if can spend money to fly our soldiers to iraq and afghanistan for no reason at all then im sure we can load up these planes with illegals and take them back home and get to work on employing our own first and regulate how many people can come to this country.monitor people who come here and be sure they go back home instead of blending in and stealing jobs…does it make any sense to keep giving citizenship to people and we have no work for ourselves.think about it!!!!!

  42. Jake Stichler Says:

    @foreigners are racist who they hire:

    If there aren’t any positions available, and they aren’t accepting applications, there’s absolutely nothing discriminative about it. Nor is there anything discriminative about running a family business – lots of people do it.

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