According to U.S. News, some top aides to President Obama think a second economic stimulus package may become necessary. The Financial Times reported "senior administration officials think further stimulus might eventually be needed but they do not want to have this fight now. Both the economics and the politics call for postponing a decision to late this year or early in 2010."
The CBS Evening News reported "since the President signed" the stimulus "into law in February, the nation has lost another two million jobs, pushing unemployment to its highest rate in 25 years." CNN's Situation Room reported, "If the question is, is the $787 billion recovery plan making a difference, Republicans in a House hearing on July 9 gave a resounding 'no.'" Fox News' Special Report noted that Administration aides said $57 billion of the stimulus funds have been committed, creating 150,000 jobs, or "$380,000 a job."
The Financial Times also reported that "while arguments over the benefits of the stimulus continue to rage, Democrats have shown themselves to be divided." The Hill reports Pennsylvania Gov. Ed Rendell (D) "urged House members to consider another stimulus package just for infrastructure projects in order to produce more jobs."
Posted on Mon, July 13, 2009