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  1. #1
    Senior Member fedupinwaukegan's Avatar
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    Reid Slams Door on 2nd Stimulus, as Obama Leaves Options Ope

    Reid Slams Door on Second Stimulus, as Obama Leaves Options Open

    The Nevada senator says Americans are only just beginning to realize the benefits of the Obama administration's first stimulus bill, which passed in mid-February, and stressed that only 10 percent of the $787 billion package has made it to the states.


    Tuesday, July 07, 2009



    Senate Majority Leader Harry Reid on Tuesday slammed the door on the idea of a second economic stimulus plan, even as President Obama suggested he's leaving the option on the table.

    The Nevada senator said Americans are only just beginning to realize the benefits of the Obama administration's first stimulus bill, which passed in mid-February, and he stressed that only 10 percent of the $787 billion package has made it to the states.

    "A little less than 90 percent still needs to be put out to the American people, and we're in the process of doing that. It's going to move more quickly now. As far as I'm concerned, there's no showing to me that another stimulus is needed," Reid said emphatically.

    Obama, though, has not demonstrated the same certainty that another stimulus will not be needed, as the unemployment rate hovers close to 10 percent.

    In an interview with FOX News on Tuesday in Moscow, Obama defended February's stimulus package, saying he knew the scope of the economic crisis would make recovery difficult no matter what.

    "I think it's important to understand that we've got a short-term challenge which, no matter how big our stimulus was, was going to be a challenge -- partly because we've got fiscal constraints," Obama said.

    The president said the government has spent money as fast as it could as the "economic tsunami" unfolded, admitting that getting cash to the states has been difficult.

    "You just can't push that out that quickly, partly, not just because the federal government has to process applications, but also because states and local governments have to gear up to get these projects going," Obama said.

    But when asked about the possibility of a sequel to the $787 billion stimulus, Obama left the door open -- as he did when asked about such legislation during his latest press conference two weeks ago.

    "I don't take anything off the table when unemployment is close to 10 percent and a lot of Americans are hurting out there," Obama told FOX News Tuesday.

    The president also touted his programs that have allowed states to halt firings of teachers, police officers and firefighters. He said the projects that are toughest to start up, the infrastructure projects, should be pushed out by the end of the year.

    Obama has said that his domestic agenda, including an overhaul of the health system, is key to getting the economy back on track, and he said those who criticized his first stimulus and the possibility of a second one don't have a plan to offer themselves.

    "There are a whole bunch of critics out there who said we shouldn't have any stimulus at all. And in fact, some of the same folks who are now saying, 'Where are the jobs?' don't really have a recipe other than doing nothing for the economic circumstances that we're in," Obama told FOX News.

    Among the critics is Senate Minority Leader Mitch McConnell, R-Ky., who after opposing the first stimulus bill couldn't slam the door fast enough on the idea of a second one.

    "I think a second stimulus is an even worse idea than the first stimulus, which has been demonstrably proven to have failed. And we're spending $100 million a day on interest on the first stimulus," said McConnell, who sees only red ink on the horizon with rising deficits and unemployment numbers.

    McConnell, using a southern analogy to mock those who might support a second stimulus, quipped: "Down home, we used to say there's no education in the second kick of a mule."

    The president, who was making a stop in Russia on his way to the G8 summit in L'Aquila, Italy, said his main concern on the eve of the summit is economic recovery. The meeting in Italy will be the first time since April that the major economic leaders of the world have come together, and the global economic situation is expected to be on the agenda.

    http://www.foxnews.com/politics/2009/07 ... ion-table/
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  2. #2
    ELE
    ELE is offline
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    Is Obama on drugs?

    One Stimulus bill was quite enough.
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  3. #3
    Senior Member agrneydgrl's Avatar
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    Please tell me about the benefits of the stimulus bill, i must have missed it somehow. How can there be benefits when they have only spent about 9% of the money.

  4. #4
    Senior Member avenger's Avatar
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    Quote Originally Posted by agrneydgrl
    Please tell me about the benefits of the stimulus bill, i must have missed it somehow. How can there be benefits when they have only spent about 9% of the money.
    It benefited the politician's cronies, which is all that mattered to them anyway. They would have spent more they just couldn't figure out how to hide it. Once they have it figured out....um, wait a minute Bernacke, yeah that's it, that's the ticket...the Fed can hide it!
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  5. #5
    Administrator Jean's Avatar
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    Perhaps Reid is concerned about his possible re-election next year and his decline in the polls in his state? Just a thought.
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