Our post earlier this morning discussed Joe Biden’s refusal to dismiss a second "stimulus" package, and his excuse that the administration "misread the economy."
Well, it didn’t take very long for an Obama advisor to come out saying that we now need another "stimulus," because the first one was “a bit too small.”
According to Bloomberg News, Laura Tyson, an outside advisor to the administration, said during a speech in Singapore today that the current plan "will have apositive effect, but the real economy is a sicker patient," leading her to believe that the U.S. should consider drafting a second "stimulus" package.
However, a second government spending package will face an uphill battle, as public opinion has shifted and 60% of Americans now outright oppose a second "stimulus," as the most recent Rasmussen poll shows.
Tyson claims that she’s only speaking for herself, but chances are it won’t be long until the administration is ready to throw more good money after bad, and tax and spenders in Congress may be all too willing to go along. Consider what House Majority Leader Steny Hoyer just said, according to a Reuters story:
I think we need to be open to whether we need additional action.
And certainly liberal economists like Paul Krugman are not only on board, they’re charging ahead.
Can you hear the drumbeat? The next "stimulus" battle may be upon us sooner than we think.