Sheldon Whitehouse: Second Stimulus "Probably Needed"

ABC News:

As job losses mount, Democrats are growing impatient about the impact of the massive stimulus package passed earlier this year, with talk beginning on Capitol Hill about a possible second stimulus bill.

Read the whole story: ABC News

Comments

[whodoyouvoodoo]

I’m all for it. Then will can have a third stimulus to fund the hiring of people to find out who stole all of the money from the first and second stimulus. Now that’s what I call job creation!

[Bumpkins]

If you pass another stimulus bill like the first one...don't bother....it will be so watered down that it will not help Main Street....By insisting to have a bi-partasin piece of legislatio­n...create­d a hodge poooooooge of rules and regulations to address the problems of THE GREAT REPUBLICAN DEPRESSION OF 2008. The bill came out will no teeth ; such as, let us ask for the cooperation of the mortgage holders to re-do the terms of the mortgage....still record foreclousers...and will not stop until every last dollar is taken from such companies as AIG----they insure against mortgage defaults. A real clunker bill needs to be passed that helps more then 250,000 auto owners...one that is geared to only buy American made autos.....that creates jobs. The Govt. asked the lending companies to ease up on credit...result little....don't ask them, tell them. Credit card rules do not go into place for months....business as usual...and Citi-cards raises the interest rates on thousands of consumers.....and so on......RE­CONSILIATI­ON will get a piece of legislation that really works.....Lower interest rates on credit cards......for the consumer to buy...the ole supply and demand model.

[Konnie]

this time try something different: GIVE IT TO THE PEOPLE! let us dig ourselves out.

given enough we could pay off our foreclosed mortgages, or buy a car, or pay off a credit card,
buy much needed appliances and home repair services, pay off medical bills, student loans or
even pay for more education or training..­..........­......

probably what should have been done the first time!

[Bumpkins]

The smart and correct way to go; therefore it will not happen.....Govt. is still in the trickle down mode.

[wolf58]

If it is needed then this time cut checks to the American public and watch how credit card debt drop and general spending goes up. We the people would do a much better job than banks and wall street getting the econmy rolling.

[interesante]

WOW.

Voice your anger here with this guy, or bash him. Whatever, either way it's fun to mess with someone!

www.warmongerblog.com

[Aslanspal]

We need a raw Jobs bill ,corporations who get money or are benefiting from all the tax breaks and stimulus are not hiring they are doing more with less(Obama needs to use his bully pulpit).

If the Republicans succeed in bouncing back in 2010 and 2012.. change will be put on hold again but the next change will be from the bottom up with pitchforks in the streets with people tired of being treated the way they are with stagnant wages and health care you are stressed about because you don't know if the insurance company will stiff you.

It may be time for Unions and Associations again not like the past these must be progressive and based on merit and holding these companies to right staffing instead of working the ones they have to slavery and stressing them out all the time wanting more and more.

[watchTVgetSTUPID]

Cap N Trade bill will shut down jobs here and create jobs overseas. Note where 90% of the solar cells are made (overseas) http://en.wikipedia.org/wiki/First_Solar

Cap N Trade will impose a massive regressive tax on poor and middle class. Say good bye to consumer spending on US goods and services. Cap N Trade will be one more FUBAR imposed on our economy by Obama.

[jmpurser]

Exactly how does cap and trade create a massive regressive tax on any class much less the middle one?

[kenp48]

Obama's own words during the campaign were " "Under my plan of a cap and trade system electricity rates would necessarily skyrocket." Obama also promised last year that cap and trade would bankrupt the coal industry. We all use electricity.

[Bumpkins]

Part of the cap and trade bill....you need to read it....helps to create lots of jobs...and stops the out sourcing....It is the old and good high tariffs on any goods produced over seas in countries that do not have a reduce the greenhouse gases program....which means China and India get to compete on a fair playing field with made in America...­.Incentive­s for business to stay here, invest and create jobs here....If say tools will cost more .....from China...Made in America wins.....

[gladiator777]

Go ahead, begin another stimulus plan, LOL, after this one was a dismal failure, as the smart people predicted, if they do pass another failure bill, get ready to start using your dollars for toilet paper...

[watchTVgetSTUPID]

The Republicans including Olimpia Snow who voted for the bill insisted on 41% of the money going to tax cuts for the rich. Those tax cuts do virtually nothing to stimulate the economy. Obama should not even try to work with the recalcatrant Republicans who are trying to make Obama a failure. He should dump his Wall Street advisors and replace them with Main Street advisors. Then Obama will truely be the change he promised to be.

[unbozo]

Here's a suggestion. Stop giving money to the private sector and expecting magic pony jobs to happen! The GOVERNMENT needs to start Public Works Programs! If you don't create jobs you are going to lose yours. I don't care if you are a Republican or a Democrat if I don't have a job by the time you come up for reelection then you are going to be out of a job yourself. End of story.

[Bumpkins]

unbozo right on the mark that is the smart way...so it will not happen.

[GoodFeathers]

Don't stuff the stimulus with pork projects and tax cuts. That ain't going to get us ((f**ing)) no where.

In fact just give the money directly to the American citizens. The last stimulus would've averaged about $60000 per American citizen if you guys had given us the money as a check. I could pay my student loan and put down a nice chunk of money to buy my first home with that much dough. Instead you ((m*rons)) threw them at greedy banks and unnecessary tax cuts. Now where the F did all the money go?

[econ1]

Well for starters GM needs another $20 billion right away.

Most of the stimulus funding already approved hasn't been spent so why are our leaders in such a rush to spend more? The more they talk about spending the more worried about the future of my kids (and yours) I get.

[RandPaul2010]

Good Lord, will the Democrats ever stop throwing money down the rabbit hole? Of course not, they're Democrats. More money is more power. Why didn't they just give the money directly to the people? Because that would cut out the middle man. THEY ARE THE MIDDLE MAN. They are not interested in giving away money unless they can be in charge of the distribution. They skim off the top and reward cronies. That's the whole point. If the money were given directly to the people though tax cuts, stimulus checks, or even paying off people's student loans, then they wouldn't be able to get their hands on any of it.

[elimenez]

You mean the $1 trillion plus spent on Iraq, the $1.2 trillion plus spent on the Bush tax cuts which have clearly been a failure, as the biggest divide between rich in poor in history has been reached, and appropriating $400 million for clandestine operations in Iran are great ways to spend cash. I agree that the TARP and TALF and all those programs have been wasteful, but this stimulus bill was great. When things you take for granted like clean tap water and roads are degraded, decrepit, or malfunctioning that's when people like you realize we need infrastructure funding. Tax cuts would be worthless right about now the savings rate is at levels not seen in 50 years, there is no credit, and businesses are not investing.. You really have no idea what you speak of.

[charlespointer]

How do you know that there's been 400 million allocated for Iran if they're clandestine operations?

[charlespointer]

Didn't Obama just sign into law legislation that capped Student Loans at 6.5% and layered monthly payments based on income? That's something to be thankful for. And it took Democrats to reform the GI Bill, which directly benefits my friends and I as we look toward graduate school.

[WindySailor]

Let's get the infrastructure work going. There is enough road, bridge and dam repair needed to keep an army of people employed for the foreseeable future. And the construction equipment and materials companies will flourish.

[jmpurser]

Yeah the three problems with the prior stimulus package were:
1) Too much spent on tax cuts which don't stimulate anything.

2) It was too small for the size of the economic downturn.

3) It was structured so the government didn't spend the money so much as find the people who would spend the money. Something like the WPA from the Depression could have had dollars moving and projects on track faster than the path we took I think.

[WindySailor]

I don't know much about Sen. Whitehouse, but with a name like that, he just has to be President some day.

[DestinationsUnknown]

he is very smart

on judiciary and health committee

watch him sometime

[charlespointer]

That's scary then if he's saying we need a 2nd stimulus.

[Macready]

I hope not . . he is a conservative Dem . . . not a blue dog but certainly one who goes along with the herd . . he rocks no boats

[talkitreal]

These Democrats need to relax! The reason the stimulus went slow, is beacsue the Obama Administration wanted to avoid as many mistakes during the contract stage as possible.
For all you who do not know how large constructi­on/infrast­ructure deals are done
1. The construction companies who want to work on the projects put in their bids, for what they are willing to do the job for - bidding takes a couple months, sometimes more, because the objeactive of the State governments in to get the best deal possible for the money.
2. After the bidding has been completed, the contracts are draw up, signed, and work begins.

The reason the Infrastructure spending is just starting to spead up now, is because many of the bidding on contracts are probley completes, and infrastructure projects are beginning all over the country: on things like: fixing roads, highways, bridges, dams, leeves, and schools .

The Democrats, who are calling for a Second Stimulus obvioulsy do not know have a clue as to how bidding, on consruction projects is done, and the understandable time it takes to check out the contractors, so you are working with qualified workers, gets a good price from the contractor for the job , sign the contracts -- all this had to be done BEFORE beginning the infrastructure projects.

Democrats need to RELAX -- jobs are being created! And will continue !
BESIDES a Second stimulus is going to take just as long to get going as the First

[DestinationsUnknown]

thank you

they are falling for the trap

[Chbronze]

Employment will grow again after the housing market finds a bottom. The economy is dwindling now because people have lived for so long on credit, based on equity in their homes. That equity no longer exists, therefore neither does the credit. This is the credit which not only allows us to buy new cars, but also to start or grow small businesses. Small business is the backbone of the American economy, employing many more than large businesses. Without equity credit is non existent, banks are not going to loan money without the ability to be paid back. The government needs to get out of the housing market, let the foreclosures happen, and there will be many, many more, so the market can bottom out and this will come to an end.

[Macready]

thank you talkisreal