OMG - Obama Admin Considers another Blockbuster Bailout/Stimulus package

[muman613]

This country has gone completely crazy. Of course we learned in Economics class that the way to get out of recession is to just print loads of new money and give it out.... Yeah... In your dreams...

http://www.bloomberg.com/apps/news?pid=20601087&sid=abAArugS6gOU

Tyson Says U.S. Should Mull Second Economic Stimulus (Update3)
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By Shamim Adam

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.

House Majority Leader Steny Hoyer said today “we need to be open to whether or not we need additional action” on an economic stimulus. Speaking in Washington, he cautioned, though, that it is “too early” to assess whether the current stimulus plan is succeeding.

White House spokeswoman Jen Psaki sought to dampen talk of a second stimulus plan.

“We remain focused on putting thousands of Americans back to work through the implementation of the recovery act and any discussion of a second stimulus is premature at this point,” Psaki said in an e-mailed statement.

Tyson, in a speech in Singapore today, said the current plan “will have a positive effect, but the real economy is a sicker patient.” 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 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.

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Hilarious reading...

[Sentinel For Truth]

The irony is that it's not a stimulus, it's a depressant.  This is exactly what will lead us into the next Great Depression.  We're not going to get out of this morass for at least a decade and the economy and unemployment will get much, much worse.  It's like a heroin addict shooting up with more heroin to get high, but it takes ever more to get the same effect and ultimately leads to overdose and death.  This "stimulus" acts the same way, and will kill the U.S. through the coming massive inflation over the next few years until the world and our own citizens won't accept the dollar at all for transactions.

Obongo is inevitably leading us into 3rd world status, Zimbabwe style.  Just look at his fellow Africans to get a glimpse of our future.

[briann]

I have to agree.  Another stimulus COULD put us in a depression.... and a depression that would take years, if not decades to recover from.  I hope the public fights this.