Skip to content

Whisper This: Here Comes Stimulus 2.1

October 9, 2009

by John Cassidy
from THE NEW YORKER

As expected, last week’s poor job report has generated calls for another stimulus package, with Paul Krugman and congressional Democrats in swing districts arguing that the existing measure is inadequate. Robert Gibbs, the White House press secretary, said earlier this week that there were “no plans” for another stimulus bill, but he conceded that President Obama’s economics team was working on “extensions” to existing measures, which would boost job creation.

Part of what is going on here is political posturing: many senior Democrats, the President included, are wary of being labeled “tax-and-spend liberals.” For this reason, they are reluctant to publicize the fact that they have already found a way to give the economy another fiscal boost in advance of next year’s mid-terms without having to vote through a second big spending bill. And they did this in the very piece of legislation that Krugman and others are criticizing: “The American Recovery and Reinvestment Act of 2009,” which Congress voted through in February. more

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: