Is Gibbs on drugs? A SECOND STIMULUS?

[Soupy Liberaltarian]

I support our president's agenda, but why would Gibbs even bring up such an idea?

[LakeSamish706]

1. Cause it is coming... This has been mentioned many times on DU....n/t

[Soupy Liberaltarian]

4. How soon and how much?

As a Gen Y'er, I'm very worried.

[lisa58]

10. it will be close to $3 trillion total

[Cash_thatswhatiwant]

30. As another Gen. Y'er, I am as well.

our generation will be FUCKED I am afraid.....

[Jennicut]

38. Well our generations were screwed a long time ago by Bush...Gen X er here.

[Fire1]

43. You're so right, Jennicut.

[Jennicut]

47. Bush and his cronies spent so much of our future on his "wars"

that we will never get that money back. And on his lovely tax cuts during wartime. Obama needs to do all he can to bring us out of this recession, or is it a mini depression? The deficit is no longer an issue, now we just need to hope there will be jobs for us. Many workers in their twenties and early thirties like us are the first to go being we have less experience.

[Fire1]

48. Yeah, but you'll work for less, too. That's why it's harder for

the boomers to even get in the door. Consequently, we are taking drastic cuts in salary. So. we ALL need jobs.

[CreekDog]

44. your generation would be worse off if we end up in a depression

think about it.

[gmudem]

2. It will probably be necessary

Several economists have said that the first stimulus was not big enough, largely responsible to the cuts demanded by Senate "centrists."

[JerseygirlCT]

23. Exactly. nt

[Skidmore]

3. Haven't been paying attention, have you? Three-legged stool.

Does that ring a bell?

[lisa58]

5. cause this first part is just not big enough - read Paul Krugman

[Teaser]

19. Well, no...Paul Krugman *says* it's not big enough

which is not the same as it objectively being "not big enough"

[lisa58]

34. Krugman received the Nobel prize for economics...

...my husband is an economist and he believes it will take $3 trillion to "right the ship" - Krugman said it would take $2.9 trillion on some show last night (Rachel?) $8 billion is not enough.

[Teaser]

49. Argument from authority is a logical fallacy.

So Krugman received a Nobel prize? The prof down the hall from me probably will too in twenty years. Doesn't mean he's necessarily right, just that he should be heard on the matter.

I've heard Krugman, but his calculations have been done entirely back of the envelope, with very limited access to the real data (which almost no one has, unfortunately). He's made a guess, that's all. He's a smart man, and maybe it's a good guess, but in the end a guess is all it is.

[gmudem]

51. Krugman isn't the only one saying it

Several other left-leaning economists I've been reading lately have said the stimulus package was not large enough. And the Obama administration itself is clearly sending signals that they know it's not big enough and is just the first step in the long road to recovery.

[blogslut]

6. If that's what it takes

Then that's what it takes.

I'm sure if there is a second stimulus, it will happen down the line. And let's not forget that just because one mentions a possibility, that doesn't make it a reality.

[Soupy Liberaltarian]

11. I just think that premature talk of a second stimulus will just look bad for Obama

This is the kind of thing that the obstructionist GOP would love to pounce on.

[blogslut]

17. Who cares what they think?

Let them obstruct till the cows come home. Their little hissy-fit tactics are just making them look worse.

[Soupy Liberaltarian]

22. it's not just the GOP, the media and American people need to be convinced. n/m

[bertman]

24. Don't worry, they'll be convinced. More and more of them are being convinced every day.

My wife is now being convinced. Many locals are being convinced. Even the corporate media report that millions of Americans are being convinced.

Convinced = unemployed or part-timed.

Are you convinced yet, Soupy Liberaltarian?

[blogslut]

35. The American people are convinced

Democrats control the executive, the house and the senate. Obama's approval ratings are high, in fact, the president's handling of our economic crisis is at 67%.

The media likes to manufacture drama where it doesn't exist.

[Jennicut]

39. Even the Republican Governors are on board with the first stimulus .

The only ones missing from the equation were the Rethugs and their famous 30% of American idiots that follow them. The public will get behind Obama no problem, there is a trust growing.

[Spazito]

40. Given the poll numbers of the repubs and those of President Obama...

being obstructionist has not served them well. If there is a Part II to the Economic Recovery Plan, there will be ample evidence as to why it is needed before it is brought forward. Let the repubs keep obstructing, it only hastens their demise.

[cottonseed]

7. It's coming.

I would bet around summer time.

[crimsonblue]

8. because it is probably needed.

the economy is in bad shape, and the current bill won't do anything but plug one leak in a dam that is full of thousands of pinholes, ready to burst.

[FrenchieCat]

9. Better than suffering more than required via the Bush Depression!

[BlooInBloo]

12. Were you under the impression that one bill would fix everything?

[Soupy Liberaltarian]

16. No, I was not.

But I didn't expect discussion of a second bill to occur so soon and I certainly didn't expect it to also receive the stimulus label.

[BlooInBloo]

20. (shrug) Shitpile by any other name...

[Pirate Smile]

13. Did he bring it up or did they ask him about it and he refused to rule it out?

This is what I see:

Obama’s press secretary told reporters on board Air Force One that he “wouldn’t foreclose” the idea, but added that there are “no particular plans at this point for a second stimulus package at the moment.”

[Aloha Spirit]

32. He was asked about it and refused to rule it out.

the Question:
"Robert, what are the prospects for another economic stimulus package following this one? I mean, have you guys ruled out that you would do something of this -- another step of this significance?"

http://thepage.time.com/transcript-of-press-secretary-gibbs-february-17-gaggle/

thanks for asking ;-)

[Pirate Smile]

36. Seems like a responsible response. It would seem crazy to rule things out when you don't know what

the future holds.

My vote - no drugs.

[CJCRANE]

14. The economy will contract by $1 trillion this year

and another trillion next year. That's why stimulus money is needed to fill the gap.

Bushco policies (or lack of them) literally destroyed trillions of dollars that's why it's necessary to print some more.

[NRaleighLiberal]

15. Compare the size of the hole with this stimulus, This one is insufficient.

[demo dutch]

18. Every economist has said sofar that this one is just not large enough

[CJCRANE]

21. Hot off the presses:

Moody's Chief Economist says Congress may be forced to undertake another stimulus plan

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x8204861

[WI_DEM]

25. It's going to be harder to get a second stimulus through

because the Republicans who voted for it this time will be under big pressure not to do so again. I say, let them filibuster if they want.

[Fleshdancer]

27. It's a $50 billion foreclosure prevention program

The partisan in me dares the republicans to bitch about this one.

http://money.cnn.com/2009/02/17/news/economy/foreclosure_preview/?postversion=2009021716

NEW YORK (CNNMoney.com) -- Obama administration officials are hammering out the details of a $50 billion foreclosure prevention program that the president is set to unveil Wednesday in Arizona, sources said.

Details remain scarce, but officials are looking to help homeowners who are in danger of defaulting on their mortgages, as well as those already behind, according to sources close to the discussions. Until now, most government and industry efforts have centered only on the delinquent.

The administration is under intense pressure to find a solution to the housing crisis, which many experts say is crucial to reviving the overall economy. More than a million homes are already in foreclosure, and more than 2 million more are expected to succumb this year. Obama has long promised that his fix will go beyond the steps taken by his predecessor

[Fire1]

46. Yep, let the games begin!

[tritsofme]

52. If it operates under the same budget rules as the current stimulus, 60 votes are required for

passage, due to the fact that it increases the deficit.

So this is an added threat to passage even without the filibuster.

[Hieronymus]

26. Thank God ... more stimulus is needed.

[Political Tiger]

28. This is nothing new n/t

[CakeGrrl]

29. Because Prez Obama has said consistently that this one is a FIRST step. n/t

[backscatter712]

31. Because we need it.

If I remember what Krugman said on Olbermann last night, the economy essentially has a 2+ trillion dollar hole in it thanks to the Bush Depression.

Stimulus is used to fill that hole and get the economy out of its tailspin.

After counting the effectiveness of the tax cuts built into the stimulus, we end up with 600 billion of effective stimulation to the economy. It's a good start, and roughly as much as could be pushed through Congress with the Rethugs opposing. But it's not enough.

So, in a few months, it'll be time for Stimulus 2.0. Gotta keep the foot on the accelerator, or we'll see the same thing that happened in 1937 when the Rethugs pushed FDR to cut back on New Deal programs, and the economy started nosediving again. FDR and Congress had to put all that spending back to get things back on track.

[Window]

33. Some economists are expecting another stim package by 2010. While the largest ever,

this package is not nearly big enough.


Peace:thumbsup:

[Better Believe It]

37. We will need one much sooner. I'd like to see a jobs stimulus package no later than summer

of at least 200 billion for jobs and more for the unemployed.

[Window]

41. You'd better believe it. LOL! Sorry, I couldn't resist.

Peace:thumbsup:

[Better Believe It]

50. You have a sense of humor. We need really big ones now!

and you'd better believe it!

:):)

[Avalux]

42. Did you really think this one would do the trick?

I think some people don't quite understand the pickle the Bush Administration put this country in - there will need to be more $$.

Most economists agree that this stimulus package isn't big enough.

[spanone]

45. where have you been? they've been talking this up all along

[iamthebandfanman]

53. because its gonna happen?

as stated many many many times , this stimulus bill is just the beginning...

it will only seek temporary relief and set a foundation for whats coming next...


this plan looks far beyond one package, and rightfully so...

this problem wont be solved by one act. anybody who thought itd solve everything... is well.. nutty and unrealistic.


i dont have a problem with actually attempting to solve the problem versus patching it and leaving it up to a higher power.

[PBS Poll-435]

54. It has to happen because of the compromises in the 1st "Stimulus."

NT

[Soupy Liberaltarian]

55. My biggest fear is that bureaucracy will prevent the ideal use of stimulus money

Furthermore, I just can't shake the thought that somewhere along the line, a few billion dollars will disappear into oblivion in a manner akin to bailout and TARP funds as a whole.

[PBS Poll-435]

57. The TARP funds are ok because most of them (it?) was used to buy preferred stock

In the banks.

[uponit7771]

56. Around 15% of our GDP is missing, most of it stuck in banks and no one is spending government will..

...have to make it up on big projects like energy and health care.

Obama's admin has already made the fiscal situation the top "security threat" in our nation, anyone guessing how they're gonna get the second round passed?

Yeah, Obama's a keeper if he's going this route AND it's health care and energy that's going to be reformed.