Here we go again. We've already seen how ineffective the previous $787-billion stimulus Congress and the President forced through earlier this year has been with curbing unemployment, as it has raced into double-digits over the previous months. But will there be an effort to force through another one?
Earlier this week, Speaker of the House Nancy Pelosi made overtures of another stimulus in a conference call. CNBC's Erin Burnett noted the possibility of a push for a second stimulus on the network's Nov. 27 "The Call."
"John, what would you say, I don't know, the chances of some sort of an additional jobs stimulus - however you'd like to characterize that, or whatever form it would take or price tag it might have ?" Burnett asked.
CNBC Washington correspondent John Harwood called the prospects "quite good," as unemployment could reach 11 percent according to Moody's Economy.com's Mark Zandi.
"Erin, I think they have gotten quite good," Harwood said. "There is a lot of heat being felt by Democrats now that unemployment has cracked 10.2 percent. Mark Zandi tells me it will hit 11 [percent] next year. That is very difficult for Democrats to sustain their majorities with in the House of Representatives and I think they feel a lot of pressureto do something."
Harwood floated the number of $200 billion as the price tag, but wasn't sure how much of a dent that would put in unemployment.
"The question is how much, even if you spent $200 billion - how much could you bring the unemployment rate down?" Harwood said. "A point, a point-and-a-half maybe, but they need to see some forward movement."
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J. Harwood would be wrong
Fri, 11/27/2009 - 13:40 ET by bigtimerJ. Harwood would be wrong again in my opinion.
If he ends up being correct, more and more people are going to wake up, let alone those that already are are going to never forget...anyone who votes for this will be added to the list of congress-critters to defeat...and many are going down that road now.
'Doubling down on stupid is not a particularly good idea'~Breitbart
So, you are suggesting...
Sat, 11/28/2009 - 06:48 ET by heldmyw...That the time-honored Dem technique of using taxpayer dollars to buy votes won't work?
From your keyboard to God's Ear...
I guess....
Sat, 11/28/2009 - 11:12 ET by Patriot IIthese idiots don't think this country is in deep enough quacamole now....we need to add another trillion dollars or so! Socialistic morons........!!!!
Yes please Dems, Stimulus #2 !!!
Fri, 11/27/2009 - 13:40 ET by RpeggioIf the Dems push for a second massive waste of money via a 2nd Stimulus bill....they will accomplish one thing for sure...a massive loss of seats in the Senate and House in 2010. So I say yes please Dems, push for a 2nd Stimulus bill....America will hang all of you.
Though in reality, the Dems are already screwed in 2010 thanks to all of their failures and Obama's horrendous 1st year.
Rp... I think if this
Fri, 11/27/2009 - 13:43 ET by bigtimerRp...
I think if this does happen, it will actually be the third Stimulus BS passed...I'm including the first with Pres. Bush.
'Doubling down on stupid is not a particularly good idea'~Breitbart
THE END JUSTIFIES THE MEANS...
Fri, 11/27/2009 - 13:45 ET by danybhoyThe Dems pushing the hardest for this are almost all safe from defeat. Pelosi, Waters, Boxer, Rangel, Samders, Kerry, & Schumer to name a few, have nothing to fear. Harry Reid might have a problem but the others don't. The followers in Congress are the ones who will pay for this at election time.
Some actually think losing power will be worth it to jam Obama-care down our throats. Knowing full well it will almost be impossible to get rid of.
"...How blind can you be, don't you see...
...that the gambler lost all he does not have..."
Nightwish
It will probably be 350 by
Fri, 11/27/2009 - 14:26 ET by wolfemanicIt will probably be 350 by the time their done taking their turns sticking their pork in it.
This would guarantee the Congressional enema is going to be even bigger.
Throwing money at the problem...
Fri, 11/27/2009 - 13:43 ET by nolotrippenIsn't that just another way for the Democrats to BUY votes?
“It is almost impossible to distinguish a politician from a gangster.” (Will Durant, 1931)
I predicted tea parties would return. Now I'm predicting dueling will return.
Oh can we PLEASE...
Fri, 11/27/2009 - 14:36 ET by Airforce_5_OBailout Dubi too!!!! Are they not to big to fail also!
Wait, I forgot they are big oil, no over spending Big Government Dem is going to them.
Liberalism: The haunting feeling that someone, somewhere, can help themselves.
Howdy AF... I wouldn't be
Fri, 11/27/2009 - 14:39 ET by bigtimerHowdy AF...
I wouldn't be shocked if we try to do something...but I know one thing Dubai (sp) isn't oil, their sister city is...they are strictly commerce.
Here's an interesting link with info. if you're interested.
'Doubling down on stupid is not a particularly good idea'~Breitbart
twilite zone
Fri, 11/27/2009 - 16:45 ET by Libertydudealternate universe?
Stimulus insanity
Fri, 11/27/2009 - 18:23 ET by KC MulvilleAt this point, any stimulus is working exactly backwards.
So, since it's the worst possible thing to do ... the only suspense is how long the Democrats will take before they attempt it.
so true so true so true
Fri, 11/27/2009 - 20:04 ET by PaarlI am part owner of a trucking and trans company in central NJ..we had 70 vehicles till 2007...biz is 40% less by revenue...30% by volume..prices have declined...
all across NJ in many many sectors medium and small biz...say from 1.0 million volume to 15 million...are clamping down but hard on cap inv and anytype of investment be it P & E or inventory or personel.
these firms, genrally family owneed or partnerships like ours are JUST NOT spending and they wont spend with the current attitude in DC. Our major partner, a very smart and adventurous investor in all sort of local ventures has turned into a Scrooge in terms of spending money/investing....just wont do it....Our warehouse inventories from our customers are down 50%...luckily we moved and got space at 60% off our previous space....
the economy in the paperboard, packaging, industrial wiring, heavy duty fasteners, warehouse shelving sytems, office interiors and others continues to shrink though at slower rates......many weaker firms will be gone soon....many low skilled workers are being dismissed...esp blacks/minorities in Newark and Elixabeth and Jersey city ...it is not pretty out there and all another stimulus will do is take more $$$ from the private sector...filter it through the bureacracy (and much will be siphoned off) and allot it out to the friends of BAMSTER.....a waste and a danger...
the economic ignorance of Obama and Congress is stunning and a danger to us all !!!
Paarl of Rhodesia
I think the dems will sucessfully push through Porkulus II
Fri, 11/27/2009 - 19:52 ET by R D HelmIt will, of course, be timed to provide billions of throw-away cash just in time for the 2012 election.
Besides, it appears that a majority of Americans (and that is apparently most "economists" out there, and a large percentage of conservatives), still apparently are operating on the belief that TARP and Porkulus I were something other than political slush funds, and were actually intended to imrprove things economically.
Yep, I'd say the sheeple are ripe for yet another screwing.
-Dave
Our elected representatives have failed us.
Why just 2 stimulus bills?
Fri, 11/27/2009 - 20:20 ET by bse5150Why just 2 stimulus bills? If they're such a good idea, let's push ten through.
1956
Fri, 11/27/2009 - 21:24 ET by UnsaneIn 1956 the economy was in recession, and that was the year President Eisenhower brought the Interstate Highway System to life.
Did THAT pull the economy out of recession? No. It undoubtedly made a difference years down the road by easing transportation and logistical difficulties. But it did not end the recession of 1956.
Do the idiots in Congress get that? Of course not.
(Insert an obligatory comment by me here gushing over Erin Burnett...)
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Why Half-Ass it?
Fri, 11/27/2009 - 22:59 ET by JakeMoThey claim the $787-billion "created/saved" 1 millions jobs. But why stop at a million? The latest BLS numbers show 15.7 million still unemployed. I'm doing the liberal math here: $787b X 15.7 = $12.356 trillion. Let's round up to $12.5T of stimulus so we give the economy that extra push it needs. Why not?
Is there anything about their economic model that makes my proposal ludicrous? Do they even base their thinking on economics?
Bouncy
Sat, 11/28/2009 - 08:35 ET by nadadhimmiSo, do you think that Dubai's checks to Bill Clinton and Bob Dole bounced? I'll bet Bill is REALLY pi$$ed. Clinton LOVES to give speeches hateful to our country, but hey, he expects to get well paid for them too.
Dems please, please
Sat, 11/28/2009 - 10:39 ET by sam12663try to pass another stimulus. This would be political suicide, and I, for one, look forward to seeing them try it. The very thought of seeing Nutsi Pelosi and Hairbrained Reid performing public Hari Kari is enticing. Are these buffoons that clueless? Lets hope so.
President Obama is nothing more than a lying empty suit; a Hollywood
style special effects smoke and mirrors show that has shown itself to
be a total fraud.
WAKE UP AMERICA! SAVE OUR CONSTITUTION!
Stimulate the Stimulus?
Sat, 11/28/2009 - 11:47 ET by CobraManMan, the democrats are great at controlling our economy, aren't they? As a matter of fact, they're so good that they need to stimulate the economic stimulus they were all so eager to implement BEFORE so many people were out of work. At this rate, half of the country will be out of work when the democrats implement the Stimulus of the Stimulus of the Stimulus (also known as the Tri-Stim) Bill.
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Unless you're a fetus.
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save
Sat, 11/28/2009 - 17:24 ET by newstogodBe nice if they saved jobs not their ass.