July 7 (Bloomberg) — The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an outside adviser to President Barack Obama.
The current plan “will have a positive effect, but the real economy is a sicker patient,” Tyson said in a speech in Singapore today. The package will have a more pronounced impact in the third and fourth quarters, she added, stressing that she was speaking for herself and not the administration.
Tyson’s comments contrast with remarks made two days ago by Vice President Joe Biden and fellow Obama adviser Austan Goolsbee, who said it was premature to discuss crafting another stimulus because the current measures have yet to fully take effect. The government is facing criticism that the first package was rolled out too slowly and failed to stop unemployment from soaring to the highest in almost 26 years.
Who is Laura D’Andrea Tyson? I know Monster readers want to know.
WASHINGTON (Reuters) – U.S. leaders should be open to the possibility of a second stimulus package to jolt the economy out of a recession still causing job losses, House of Representatives Majority Leader Steny Hoyer said on Tuesday.
Color me shocked! Eric Schmidt of Google you say!?! Noooooo! Not the keeper of the interwebs! I’m shocked, I tell you! Shocked! 8)
Practical Madman on July 7, 2009 at 4:20 pm
Is it not a requirement for all of this economic education to have actually read a book on economics? These people KNOW EXACTLY what they are doing and that it will totally collapse the economy and the dollar. Things are going from bad to worse, and it is still not going fast enough for these people! Don’t they realize that America will not stand for this much longer? I am beginning to believe that they WANT us to revolt! We can’t be bled much further till there is nothing left to give. When people have lost everything, and have nothing left to loose, they loose IT!
I saw her comments earlier today…Berkeley say no more! These academics are so short sited. They are too busy inserting the amount of the stimulus for X in their models and getting the economic output response from their highly intelligent computers all the while forgetting that an economy is never so simple. If you spend a whole bunch of money and in doing so, scare people away from the market, should your next move be to spend a whole bunch more money. Perhaps, Obama should come back and explain to us idiots how only government can get us out of the recession…that is so long as everyone not in government, all consumers and private businesses, go out and begin churning out economic activity.
I want to go on record AGAIN as saying that if you want to stimulate the economy – give each and every legal American citizen $1,000,000.00 DOLLARS and watch what happens. Does anybody have any idea how many small business will spring up and how many homes will be bought putting a floor under the housing crash?
THAT WOULD BE STIMULUS IN ACTION – NOT $500.00
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Funny how the name Warburg Pincus just sort of leaps out off the page at you, isn’t it?
Yeppers Grail! Imagine that?…and The New American Foundation. Guess who is behind that one?
Color me shocked! Eric Schmidt of Google you say!?! Noooooo! Not the keeper of the interwebs! I’m shocked, I tell you! Shocked! 8)
Is it not a requirement for all of this economic education to have actually read a book on economics? These people KNOW EXACTLY what they are doing and that it will totally collapse the economy and the dollar. Things are going from bad to worse, and it is still not going fast enough for these people!
Don’t they realize that America will not stand for this much longer? I am beginning to believe that they WANT us to revolt! We can’t be bled much further till there is nothing left to give. When people have lost everything, and have nothing left to loose, they loose IT!
Tyson was on TV constantly during the Clinton years and seemed quite sane. I know she spent some time in London prior to ObamaWorld.
What goes on in the minds of people who seemed sane at one time and suddenly do a complete personality change???
IA – you need to dig just a little tiny bit on the London Business School with what you know now and you will see it.
I saw her comments earlier today…Berkeley say no more! These academics are so short sited. They are too busy inserting the amount of the stimulus for X in their models and getting the economic output response from their highly intelligent computers all the while forgetting that an economy is never so simple. If you spend a whole bunch of money and in doing so, scare people away from the market, should your next move be to spend a whole bunch more money. Perhaps, Obama should come back and explain to us idiots how only government can get us out of the recession…that is so long as everyone not in government, all consumers and private businesses, go out and begin churning out economic activity.
I want to go on record AGAIN as saying that if you want to stimulate the economy – give each and every legal American citizen $1,000,000.00 DOLLARS and watch what happens. Does anybody have any idea how many small business will spring up and how many homes will be bought putting a floor under the housing crash?
THAT WOULD BE STIMULUS IN ACTION – NOT $500.00