Also on yesterday’s Meet the Press:
MR. GREGORY: Warren Buffett said this week more stimulus might be needed. Does the president believe that?
MR. AXELROD: Well, let’s see how this, this stimulus works.
MR. GREGORY: All right.
MR. AXELROD: As everyone has noted, much of the spending is yet to come. And let’s see how this works before we start talking about the next steps.
MR. GREGORY: How much time before you make a decision about whether more stimulus is needed?
MR. AXELROD: Well, let’s see in the fall where we are. But right now we believe that what we’ve done is adequate to the task. If more is needed, we’ll have that discussion.
If you’re contemplating legislation to deal with an issue four and a half months after you passed legislation to achieve the exact same goal, it’s a pretty clear indicator that the first effort didn’t work.