The calls are growing to increase stimulus spending. According to the Wall Street Journal:
Vice President Joe Biden said the Obama administration “misread how bad the economy was” and didn’t foresee unemployment levels nearing double digits, in comments likely to intensify calls for the administration to do more to counter job losses.
Some economists are pressing the White House to enact a second round of stimulus spending or find some other way to avert a prolonged job and wage slump.
According to Bloomberg News, the genius behind the call for a second stimulus is Laura Tyson, one of Obama’s economic advisors.
The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an adviser to President Barack Obama.
A bit too small? The largest single spending bill in the history of the U.S. is a bit too small? That’s great. Thankfully, the White House is slightly reluctant about the idea and wants to give its first stimulus a shot before committing taxpayers to another bad spending policy.






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