Obama Not Considering “Second Round” Of Stimulus Money
On an earlier version of this article, we attributed a quote from Laura Tyson to President Barack Obama. This version reflects the correction.
By Dolores M. Bernal, NEWS JUNKIE POST
Discussions over a second economic stimulus package have been floating around Washington, D.C, this week.
Laura Tyson, one of Obama’s economic advisers, has added that the first $787 billion stimulus was “too small,” and that it was meant only to prop up the economy. Reuters picked up this quote from Tyson at a seminar she attended in Singapore this week:
“We should be planning on a contingency basis for a second round of stimulus…The stimulus is performing close to expectations but not in timing.”
At Wednesday’s press briefing, en route to the G8 Summit, White House Press Secretary Robert Gibbs didn’t entirely duck the question from reporters on this possible second stimulus to aid in the current economic recession.
“Well, I would say — I’ll repeat what I’ve said and I think the President and Vice President have said, and I think the President said this yesterday, he’s not ruling anything out, but at the same time he’s not ruling anything in,” said Gibbs. “So we’re focused on the implementation of the first bill, and understand and acknowledge that adding jobs is going to take some time.”
Lawmakers in Congress have cautioned that it’s perhaps too early to discuss the possibility of more help, perhaps to avoid any knee jerk reactions from those who oppose such spending.
UPDATE: The White House has said that Obama is not considering a second stimulus and that Tyson’s remarks in Singapore does not reflect the overall views of the Obama Administration.