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Mar 10,2009
House Democrats eye second stimulus
by UPI

WASHINGTON - House Democrats are considering a second stimulus plan to help reassure investors and boost U.S. consumer confidence, officials say.

The Hill reported Tuesday that some Democrats say they believe that the recently enacted $787 billion economic stimulus plan is just not enough to jump start the economy.

The newspaper said among proposals considered Tuesday at a meeting of the Democratic Steering and Policy Committee is another spending plan.

"We are going to need more taxpayer money," Mark Zandi, the chief economist at Moody's Economy.com and a key economic adviser to congressional Democrats, said after the meeting. "I think another stimulus package is a reasonable assumption because of the way things are going."

House Speaker Nancy Pelosi, D-Calif., acknowledged that another stimulus bill is being considered.

"We have to keep the door open," Pelosi said. "The word of the day is confidence. Confidence in our markets, confidence in lending, confidence in our financial institutions."

Politico reported that the House speaker said she wants to give the $787 billion stimulus package time to work before committing to a second stimulus.

"We hope it will be sooner rather than later that (the stimulus) catches fire in Washington, D.C. But we aren't waiting," she was quoted by Politico as saying.

© 2008 United Press International. All Rights Reserved.

628 times read

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Mr. Credibility by Debra J. Saunders posted on Feb 16,2009

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