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Dem Senator: Second Stimulus ‘Probably Needed’
July 06, 2009 2:14 PM
ABC News’ Rick Klein reports:
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.
Today on ABCNews.com’s “Top Line,” Sen. Sheldon Whitehouse, D-R.I., said a second stimulus is “probably needed,” and predicted that Congress is likely to act before the end of the year to inject even more federal dollars into the economy.
Said Whitehouse: “I think that it is probably needed. We’re going to need to have some further discussion. It will probably take place towards the end of the year and we want to take a look at the economic conditions at the time. But it certainly should be on the table at this point.”
Whitehouse’s home state of Rhode Island is among the hardest-hit in the current economic downturn. In light of a Providence Journal story revealing that most stimulus money headed to Rhode Island has gone to close the state’s budget gap -- instead of on job-creating projects -- we asked the senator whether he was satisfied with the spending pace and overall impact of the first stimulus measure.
“No -- obviously not,” he said. “I think that the sooner we can get these jobs out for people the better off they will be, and the sooner the economy can really start to turn around in a way that means something to regular people and not just to bank executives. So, we’ve got a job to do to try to speed that up.”
He continued: “We very may well need to do a second stimulus, and we have to reassure the American people that just because the banks are back on better footing again, we haven’t overlooked them. They’re the priority, and we gotta make sure that’s clear.”
The Obama administration, while acknowledging that the stimulus’ impact hasn’t been what they predicted it would be, is putting off questions about a second stimulus.
On ABC’s “This Week with George Stephanopoulos” Sunday, Vice President Joe Biden said that while administration officials “misread the economy” earlier this year, it’s too soon to say whether more stimulus spending is necessary.
“I think it's premature to make that judgment,” Biden told Stephanopoulos. “This was set up to spend out over 18 months. There are going to be major programs that are going to take effect in September, $7.5 billion for broadband, new money for high-speed rail, the implementation of the grid -- the new electric grid. And so this is just starting, the pace of the ball is now going to increase.”
Also on today’s program, Whitehouse said he remains hopeful that the Senate will take up a health care reform bill before the August recess.
He touted a Congressional Budget Office report issued last week on the latest draft from the Senate Health, Education, Labor and Pensions Committee that estimated the plan would cost roughly $611 billion over 10 years.
But Whitehouse, who serves on the HELP committee, acknowledged that the final price tag could exceed $1 trillion when additional elements are included by the Senate Finance Committee.
“I really don’t have a handle on that cause the finance committee hasn’t produced a bill yet and hasn’t produced numbers yet, so it’s certainly possible” the final cost will top $1 trillion, Whitehouse said.
Done right, health care reform saves money in the long run, he said: “There’s a lot to work with if we can start to squeeze some of the waste, some of the duplication, some of the error, some of the unnecessary conflict out of this incredibly over-expensive system that we have to carry right now.”
Watch the full interview with Sen. Sheldon Whitehouse HERE. (You can also find out about the dachshund who wanted his say during a conference call between senators and reporters last week.)
Also today, we chatted with The New York Times’ Mark Leibovich, the author of the cover story in the latest New York Times Magazine.
Leibovich unpacks the mysteries surrounding Gov. Sarah Palin’s surprise announcement (hint: he’s as mystified as the rest of us), and predicts that senator-elect Al Franken, D-Minn., is going to try his best not to be funny after he’s sworn in tomorrow.
Click HERE to see the full interview with Mark Leibovich.
July 6, 2009 in Top Line | Permalink | Share | User Comments (98)
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Great Idea.
The first one has worked so well. Not!
Less than 5 percent of the first
787 billion dollars have been spent.
Whitehouse wants to waste more of our
money? This has to STOP!
We have to throw these bums out next
November before we become a nation
of Paupers.
Posted by: reaganfan | Jul 6, 2009 2:35:36 PM
Look, I believe the first stimulus was needed and I believe Obama is doing all the right things...However, for Democrats to begin talk of a second stimulus at this point in time is plain stupid and will cause a backlash. The majority of the first stimulus money hasn't even been spent yet..Democrats need to cool their jets and stop overplaying their hand...That is exactly why they were voted out before and will be why they are voted out again if they do not cool this type talk..I believe it just nervousness that things are not moving as quickly as they hoped...they need to have patience otherwise it would have been better doing nothing as Republicans advocated...
Posted by: indy_voter | Jul 6, 2009 2:46:45 PM
Actually stimuli throughout the last couple of decades has lead to these giant asset bubbles. We don't need any more stimuli. The correction must take place in order to avoid catastrophic failures later on.
Posted by: Huh | Jul 6, 2009 3:02:48 PM
NO, NO, NO
They can't even get this money out. I work at a non-profit that with a just $100K of the workforce money I could rehire 2 people....but they have NO IDEA how they are going to spend tht 200Million.
So I lay off 4 employees and NO ONE CARES..
This has to stop, how about a tax holiday for those of us working, I might do buy something, but otherwise I will save what I can because I am scared these guys are going to just screw up the country more and more.
NO MORE STIMULUS
Posted by: Sue | Jul 6, 2009 3:05:53 PM
Perhaps if the stimulus package they passed earlier didn't have so many earmarks, a second wouldn't be needed.
This level of mismanagement of taxpayer dollars should be a criminal offense.
Posted by: MadTaxpayer | Jul 6, 2009 3:17:17 PM
This is not NEW news.
everyone, including the White House, surmised the stimulus package passed would not be enough to reverse the incredible debt left by the previous administration.
months ago. Perhaps you GOP screamers
all forgot--
the aversion to passing the stimulus package?
Posted by: gus amaral | Jul 6, 2009 3:25:37 PM
MadTaxpayer - Ironically earmarks are traceable and relatively transparent compared with the other 99% of government spending, but I get your point.
Posted by: Huh | Jul 6, 2009 3:25:44 PM
unless it is to give $10k plus to each family in the form of a debit card that would require spending, and lower corporate taxes, and give incentive for companies to hire, then don't bother.
Posted by: jschmidt | Jul 6, 2009 3:27:55 PM
Gus Amaral = Looking For Handout Welfare Nanny Stater
How is your share of GM going, Gus? How do like all the TAX CHEATS, LOBBYISTS, EARMARKS, "FIVE DAYS TO READ ALL NEW LEGISLATION"
Just wait 'till next year's tax bill comes to your "green" house, Gussy :)
Posted by: Sam Adams | Jul 6, 2009 3:42:44 PM
These clowns don't have a clue how to create a job. They have never run a business. The Dow started dropping the day that it looked like Obama would win because they knew his policies would be antibusiness. It's time to quit drinking the rainbow stew and get back to meat and potatoes!
Posted by: Jeff | Jul 6, 2009 3:45:24 PM
If we have a "second stimulus" unemployement will go to 25% or more. Our leaders seem to want to control every aspect in our lives. For the first time in my life I am afraid of the future. Do the sheeple of the press think they are above having their money taken away by these people?
Posted by: wheresmymoney | Jul 6, 2009 3:49:46 PM
They are so money hungry they could care less what we think or how we will survive as long as they can keep living the GOOD LIFE ON OUR MONEY------THEY NEED TO BE BOOTED OUT AND FAST!!!!!!!!
Posted by: countrygirl_74 | Jul 6, 2009 3:53:17 PM
I think they need to wait and see. They need to get the green stuff going especially wind and solar. They should focus on helping agriculture especially the small farmers. Not the large agribusinesses. As far as the money is concerned cheney said it best. ronny raygun taught us that "deficits don't matter". I highly doubt the democrats will ever listen to what republicans have to say about being physically responsible. LOL
Posted by: rightbehind | Jul 6, 2009 4:09:10 PM
The merging of government and business control levers is FASCISM. Can't wait for another 1000page bill to get rammed through congress, with no one allowed to read it, under threat of martial law.
Posted by: anandarew | Jul 6, 2009 4:16:27 PM
What was the unemployment when Bush left without the stimulus and what is now with the stimulus. Just keep placing more restrictions on business and manufacturing.
Posted by: jamescbuilder | Jul 6, 2009 4:19:50 PM
NOT A CHANCE... FOOL US ONCE... FOOL US TWICE... DONT THINK SO.BETWEEN BUSH, OBAMA AND KERRY I WOULD NEVER HIRE SOMEONE FROM AN IVY LEAGUE SCHOOL AGAIN. IT DOESNT TAKE A NOBEL PRIZE TO FIGURE OUT THE SO CALLED ELITES KNEW LESS THAN JOE THE PLUMBER.
Posted by: catman | Jul 6, 2009 4:23:45 PM
Octo-Prez is clueless and it shows. Everyone made $$$ when W was Prez, now Octo-Prez is dismanteling the middle class.
Posted by: realtor | Jul 6, 2009 4:33:39 PM
consumers account for 2/3rds of all economic activity. give the second stimulus to the taxpayers, say 20,000
per family, that will get the economy going and bring banks in line
Posted by: jim | Jul 6, 2009 4:36:54 PM
WOW is all can say after reading this story!
Posted by: Mike | Jul 6, 2009 4:46:37 PM
One has to laugh at the Democrats. They were told by economists and Republicans that their corrupt AIG Bonus Guarantee/Special Interest Payback bill wasn't going to create any jobs, but they were all in such a rush to pass the corrupt pork that they didn't care what happened to the working people of our country. They could have passed tax cuts for working people and small business so people could be hired right away, but giving tens of billions to their buddies was just too tempting to pass up! Now as predicted we are at 9.5% unemployment and we will soon be at all time record levels, at least since the Great Depression. Who is going to hire anybody when Congress and Obama are plunging us into the most massive debt in history, and following up with tax increases on Engergy and Health Care that will devastate small business and working people. They promised us no more than 8% unemployment and their corruption will probably double that or worse. Let's hope the economy can survive the Chicago Way until 2010!
Posted by: valwayne | Jul 6, 2009 4:47:23 PM
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