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March 12th, 2009
04:00 PM ET

U.S. need a 2nd economic stimulus package?

FROM CNN's Jack Cafferty:

Some failing grades for the Obama administration when it comes to its efforts to jumpstart the economy.

President Obama speaks after receiving the economic daily briefing with Treasury Sec.Timothy Geithner in the Oval Office yesterday.

A Wall Street Journal survey of economists shows a majority of those polled are dissatisfied with the White House's policies. On average, they give President Obama a grade of 59 out of 100. Treasury Secretary Tim Geithner gets an average grade of 51.

The economists also pushed back once again their forecasts for when a recovery will begin - now they're saying October. That's after saying August last month. They predict the economy will lose another 2.8 million jobs in the next year - with the unemployment rate topping nine percent. Also, these economists see a one-in-six chance that the U.S. falls into a depression.

When it comes to the $787 billion economic stimulus package - the experts are mixed, with 43 percent saying the U.S. will need another package of about $500 billion. Others were doubtful that we needed any stimulus plan at all.

But it's been all the talk in Washington this week since House Speaker Nancy Pelosi suggested more spending might be needed. House Democrats have since backed off saying we need time to see how the first stimulus package plays out. But even talk of another massive plan was all it took to get Republicans and many Democrats all wound up.

Republicans argue this is proof that the first package isn't working while some Democrats are saying there's no appetite for another package and it's way too soon to even think about it.

Here’s my question to you: Does the U.S. need a second economic stimulus package?

Interested to know which ones made it on air?

Larry writes:
We did not need the first package. The economy has always had the ability to sort itself out. The strong survive and the weak learn a lesson and come back stronger next time. Most economists I have read agree that FDR actually extended the Depression by several years and made the suffering much worse by continuing to push the New Deal. Pelosi, Reid, and Obama need to leave it alone.

John from New Hampshire writes:
Yes, and this one should go to the people! Give each legal citizen $1 million – no strings attached! I'm willing to bet most people will use that money to pay off their mortgages, auto loans, student loans, etc... which in turn will eliminate pressure on the banks by reducing and eliminating toxic assets because loans will be getting paid off! Even if some people spend the money foolishly, that money is getting injected right back into the economy.

Ken from Centreville, Virginia writes:
Judging by the behavior of the market this week, the recovery may very well be beginning now, not in October. Unemployment is, and will be, a lagging indicator. General economic conditions will improve well before unemployment starts to drop. So, there may be a need for additional targeted spending, to directly help unemployed. But this recession has a large "psychological" aspect to it that implies the first package may have a pretty good effect.

C.T. writes:
The truth seems to be that no one really knows what is needed to get us out of this current economic crisis. Look at Wall Street: record losses week after week and then Citibank reports positive numbers for the first two months of 2009 and Wall Street has a rally. Those two months of profit costs the American taxpayers $180 billion.

Ron from Coalinga, Calif. writes:
So the economists don't like the idea of another stimulus package? There's an old saying, "With enough data and a good model, an economist can make as good a guess as anyone else."

soundoff (300 Responses)
  1. beverly

    dear mr, Cafferty: maybe you can answer a question for me. We are bailing out banks, and auto companies, can you tell me why, some of thes banks and auto companies, and probally insurance companies, are still out sourceing our jobs to INDIA? I am talking about citi bank and nissan. These two I know for sure are still keeping call centers in india. why should any of the auto or banks get any money, when they are still slapping us in the face. we need jobs, and they have given our jobs to India. there is something wrong with this. fed up in vegas

    March 12, 2009 at 4:00 pm |
  2. Paulia

    The economists are the ones who should be given low grades. Their voices have been silent at the off-set of the decline of the economy and the profession as a whole has not spoken in one voice with a clear solution to the problem. The American people trust President Obama more so than the 49 economists who rated the President’s performance.

    March 12, 2009 at 4:00 pm |
  3. AspenFreePress

    No way. What the U.S. needs is to get real. For the past eight to sixteen years we've enjoyed a overheated consumer-driven economy fueled by borrowed money that didn't get paid back. There's no way, short of a war, that our economy will sizzle like that again unless consumers are spending themselves into bankruptcy. Well, now consumers are tapped out. I guess the fed could print enough bucks to pay off the $2 trillion credit card debt and everybody could get new shiny credit cards and start all over. Only this time shouldn't the interest rate might be lower to assure more paybacks. Sterling Greenwood/AspenFreePress

    March 12, 2009 at 4:00 pm |
  4. rice, bryan

    first, the republicans would go for it if limbaugh asked for it. if "w" screamed for the money they would have voted for it. what am i talking about, they did vote for it. second, maybe we should wait and see for about six months. the republicans think that a person gets fat in one day, and can lose it the next. it took 8 long, and disappointing years to get in this god awful mess. there is no way that it i will take a couple of weeks to get out. republicans like to blame everything on clinton for "w"'s first four do nothing years. then they blame the democrat house for the next 4 agonizing years. it's like the "w" years never happend. it will take a while to put people back to work, the states will drag their feet getting projects going. in indiana, our govenor was already trying to put the money in the bank instead of using it to fix up the roads, schools, and water systems. so while the states try and figure out how not to use the money wisely, people will stay unemployed. and if you ask any wealthy business owner if obama is failing, of course they will say yes. he is talking about raising the taxes on them. i think at this point we should wait and see how things will go, before we just jump in and drown. thank you "w" i will be glad when we finally put your mess behind US.

    March 12, 2009 at 4:00 pm |
  5. Jim Handy - Inglewood Ca.

    We need ANY stimulas package that it is going to put money in the hands of the people who actually need it and will spend it. Everything that has been done so far has been to help those who are already or should be financially okay.There seems to be a lot of people in this country crying like a baby about their financial problems when the only problem they really have is bad management skills. I am really getting sick of you TV media types trying to portray yourselves as part of the struggling working class when everybody knows you ALL live better than the majority of us. Quit trying to act like you understand what we are going through when you have never been in our shoes.

    March 12, 2009 at 4:00 pm |
  6. PullYourHeadOut

    Why not Jack? Let's just throw some more money at the problem when we know it won't fix it. I mean money is only paper right? We can always print more. Oh and we're not heading into a depression, we're in one and it's only going to get worse the more money we waste.

    March 12, 2009 at 4:00 pm |
  7. Frank Leet

    Jack, Why is it that experts can never agree? Webster's defines an expert as someone who "has or displays special skill or knowledge derived from training or experience" ... Come on.... can anyone say they possess such knowledge. Seems the experts are really just arm chair quarterback finger pointers who are trying to sell more books and publications.

    March 12, 2009 at 4:00 pm |
  8. JR

    Lets not overlook what the stimulus package has already been. Yes, $700 B in one swoop. But lets include all the hundreds of billions provided to the auto industry, the bailouts of financial institutions, the taking over of trillions of bad martgages, the new $400 billion budget. All these need to be considered when we talk about a "stimulus" package. And what has it provided? Auto manufacturers and banks are asking for more. We know more houses will foreclose later this year. Almost all Americans have lost their life savings in the stock market. The law of economics needs to play out without the governments intervention. We have forgotten in this country to reward success and punish failure. Instead we are going into a debt that we will NEVER be able to get out of. Ad to this debt the Medicare, Medicaid, and Social Security burden looming down our necks. Throwing all this money into the deep hole is not going to get us out. If the government is so set on spending this money, why not have distributed it even to all tax payers and let them save, spend, lower their mortgage, etc.. which is what we are really trying to accomplish, right?

    March 12, 2009 at 4:00 pm |
  9. susan duncan

    I think it is to early to pass judgement on this administration's efforts to fix the economy. This mess didn't happen overnight. I will pass judgement on congress however! It is time to stop the bipartisan bickering and start focusing on working together to help implement policies that give Americans hope again. Create jobs and people will work. As a single mom supporting my sons nothing gives me greater pride than to be able to provide for them.If a future package stimulates jobs for the average Jane/Joe than I am all for it. Congress should be ashamed at their toddler like behavior....

    March 12, 2009 at 4:01 pm |
  10. smitty67

    wait just one second another stimulus package????

    The stimulus bill also will waste billions of dollars. Consider this bill includes funding for such things as:

    ·$198 million for new benefits for Filipino veterans of World War II (who still live in the Philippines);
    ·$300 million for a new fleet of cars for federal employees and government agencies;
    ·$8 billion for a high-speed rail corridor between Las Vegas and Disneyland;
    ·$1 billion to subsidize rides on Amtrak;
    ·$165 million for wildlife management;
    ·$2 billion for a Neighborhood Stabilization Program, with the funds expected to go primarily to groups like the Association of Community Organizations for Reform Now, better known as ACORN, a group that is under investigation for allegedly engaging in voter fraud around the
    country;
    ·$50 million for the National Endowment for the Arts; and
    ·$650 million for the purchase of digital television converter boxes.

    Thats $11.3 BILLION –

    In addition, less than five percent of the spending is devoted to rebuilding the nation's infrastructure; that despite one of the original goals articulated by President Obama that the bill should "put people to work rebuilding our crumbling roads and bridges."

    In fact, the grab bag of spending included in the bill even fails the President's test of being "timely, targeted, and temporary." It isn't timely because over half of the money in it won't be spent until 2011 or later. It's not targeted because it spends billions on things that have nothing to do with job creation. It's not temporary because many of the most popular programs in the spending bill will become permanent. Moreover, in a couple of years those who try to scale back the spending to pre-stimulus levels will be accused of substantially cutting funding, when in fact we would simply be returning it to the level everyone claims it should be at today.

    March 12, 2009 at 4:01 pm |
  11. David

    With Pres. Obama being quoted as saying (sic) we dont have the luxury to choose between long term and short term investments, wouldn't digging ourselves even deeper in debt just forestall the crisis? Maybe we should start rolling with the punches instead of forestalling the inevitable.

    Regardless of where you pin the blame, America is going to pay for the decisions that have been made in the past, and i dont think it is adventageous to put our future on layaway.

    Regards,
    David
    Obama supporter and critic
    Indianapolis, IN

    March 12, 2009 at 4:01 pm |
  12. Henry Miller, Cary, NC

    Another "stimulus" package? No way in hell! The first so-called "stimulus" package was nothing more than the biggest intrusion in history of government into American life, and idiotic besides.

    The notion that government can fix an economy nearly ruined by government spending money we don't have by spending even more money we don't have is utterly absurd.

    March 12, 2009 at 4:01 pm |
  13. Peg

    Jack~
    I really have no idea but I have not seen anyone come up with other solutions.

    March 12, 2009 at 4:01 pm |
  14. Josh

    Two things.

    1. The stimulus plan how been in effect for about three weeks now. It's too early to determine if it is a success or failure. You could say the same about the president since he's been in office for less than two months.

    2. President Obama wanted more money in the stimulus and it was negotiated down by the group of moderates.

    March 12, 2009 at 4:01 pm |
  15. Carleen

    Whay are we paying the way for lazy teenagers, "Octo-mom" and criminals and NOT for the handicapped and disabled? Why should they suffer under the hardship of not being able to work a minute, while criminals and baby-machines get a free ride? Whatever happened to being married, having a job and a home BEFORE having a baby? It's not like it's impossible to prevent pregnancy today!
    And why are we rewarding those who BROKE our rules? I thought they were supposed to be punished? What the hell's up?

    March 12, 2009 at 4:01 pm |
  16. jeramy

    No another one is not needed. What is needed is accountability. The failed leadership of these companies should have some type of accountability for their bad decisions before they should be able to be giving one penny of this money. We are shoring up leaky damn here and the holes are huge. They took alot of bricks out of this country by moving most of the lower level building block jobs to other countries because its cheaper. Then they didn't lower prices in reflection of the cost they were saving with this outsourced labor. So they took jobs out of our economy while leaving their goods at the same price and they wonder why we are failing. We need to build up the base, history has proven time and time again that trickle down economics fail every time.

    March 12, 2009 at 4:01 pm |
  17. keith Dallas, TX

    No. The economy isnt a little sports car that can be moved in seconds, it has inertia, a lot of it, like an aircraft carrier. you cant just turn around, it takes time and space to overcome all that momentum.

    March 12, 2009 at 4:01 pm |
  18. Charles K Miller

    Not yet!! Let's wait to see how the first mega-bundle of bailout money helps, hurts, or has no effect on the macro-economy.

    March 12, 2009 at 4:02 pm |
  19. Matt

    If the stimulus bill were worth the paper on which it's printed all this pork would not be needed. How many members of congress voted "yea" simply because they would be getting a statue of themselves at the taxpayer's expense?

    March 12, 2009 at 4:02 pm |
  20. James Hutchison

    I am just sick about the current stimulus package. I am tired of paying almost 1/3 of my salary in taxes for all the people that don't work and so banks can practice poor money management. I am middle class and if this keeps up I will not be for long. Obama is spending like a kid in a candy store and when it comes time to pay it back I fear I will be the one hit hard.

    March 12, 2009 at 4:02 pm |
  21. Scott Oswalt

    Jack-

    At this point, what's another $500 billion? Why not make it say... $999 billion? Wouldn't it be better for the overall economy, and cheaper for taxpayers, if the government just cut a check to every taxpayer for around $10,000? While they are at it, why not just do away with credit scoring. Then we can all run out and buy whatever we want based on our current incomes. Brilliant! Couldn't be much worse than what they are doing now.

    Out of control!

    March 12, 2009 at 4:02 pm |
  22. Scott

    I think it depends on the quality, not quantity of economists and opinions being polled. All of us want to know what the best answer is, and I would personally like to see a better explanation of the economic options, not just a poll of 'economists'. That deck can be stacked any way the WSJ wants to spin it.

    March 12, 2009 at 4:02 pm |
  23. George, Dunedin, Florida

    Why send another dog into the fight until you see how the first dog fought. Just maybe the first one will get the job done, and will turn the economy around before the second stimulus package is needed. If not it may take a second, and even a third. Guess it just depends on how deep the hole is that the Republicans handed us...Have no fear for the Calvary is here !!!

    March 12, 2009 at 4:02 pm |
  24. Wayne Mitchell

    Yes things are bad ,but we have to remeber it was not this man who got us where we are. And he is depending on the people by his side. I do think he made some bad picks, but he has to work with what he has.

    March 12, 2009 at 4:02 pm |
  25. David, Niantic, Ct

    It's too soon to tell. This one has barely begun to enter the economy The vast majority of it is still to come. As a Democrat, I believe that Pelosi, and others, should just shut-up. The markets have made great strides in recent days and such comments could make investors jittery, undoing it all.

    March 12, 2009 at 4:03 pm |
  26. garrick

    hi jack
    the first one wasnt enough,everyone said so.we need to combine one with the rest of the world economy and help everyone come together for the good of job creation world wide then put alot into boarder construction to keep illegal immagrants from claiming all the construction jobs.
    clearwater,fl

    March 12, 2009 at 4:03 pm |
  27. Jeff Spaedt

    No – We just need the media to start talking about some positives that are out there for them to communicate and not continue to talk doom and gloom all the time. If they could do that the 90% of Americans with jobs would spend some money and help keep the jobs we have today! The media and banks take the blame for me.

    March 12, 2009 at 4:03 pm |
  28. Billy G in Las Vegas

    if we need "Son of Stim" then so be it.

    one big mistake that FDR made during the New Deal was pulling back on funding for federal projects when it looked like the country was starting to recover in the late 1930's which once again lead to a slowing of production and a rise in unemployment.

    Paul "The Doremouse" Krugman says it's better to spend too much on the stim plan then not enough and repeat FDR's mistake. the guys a Nobel prize winner in economics and knows what he's talking about.

    March 12, 2009 at 4:03 pm |
  29. Bob

    Frankly Jack, I didn't think we needed the first one.

    Let's face it, solving economic woes by going into astronomical debt will not work. It's what got us into this mess in the first place, right? Too many people buying too many things that they couldn't possibly afford with banks too eager to lend those people money that they couldn't pay back. Stupid.

    If it doesn't work for every US family, then it won't work for the US government.

    Besides, giving unthinkable amounts of money to the government is like giving a truck load of heroin to an addict.

    March 12, 2009 at 4:04 pm |
  30. Kevin E.

    Jack,

    Economists were saying when the original bill passed that it wasn't large enough to counter the tide of the recession. The over-concentration on tax cuts took away money from infrastructure spending, and people like Krugman said so. That being said, the bill is less than a month into the law books, so give it time to see if it has the desired effect.

    Furthermore, Republicans need to actually come up with a reasonable alternative if they are legitimately concerned instead of taking the "I told you so" route after bringing up policy that didn't work before and won't work now. How do more tax cuts stimulate the economy when people are losing the jobs in which they could possibly get the tax cut benefits at a rate of approximately 600,000 a month?

    March 12, 2009 at 4:04 pm |
  31. michael

    yes..... and this time give the $ to the american people over the age of 21. somewhere between 10.000 and 50.000 each, then you will see the country start to move again! The earlier junp starts have ALL gone to greedy corptae people that could care less about the average american citizen!

    March 12, 2009 at 4:04 pm |
  32. Carl

    Sure.. why not. But instead of giving it to banks and big corporations, just send it to the people. But unly to these with a combined gross income of under $250,000.

    March 12, 2009 at 4:04 pm |
  33. susetti

    Give the stimulus some time to work. These things don't create jobs over night. And Barack had to wait until the end of January to get started. Bush didn't do anything except a bank bailout. No second stimulus yet.

    cincinnati oh

    March 12, 2009 at 4:04 pm |
  34. Stephen VanNuys

    Please – no more stimulus packages! The blue dogs in the House are right- there is no more appetite for another stimulus package at this time. If they try for another one, then they had better come on our TV's and tell us exactly how they plan to pay for it. I think the consensus on the street is: where is this money coming from?!? ...China, Korea, Saudi Arabia, Japan and others, no doubt. Why those countries continue to lend us money at the current rate we are going I have no idea. Ugh. We need to wait and see how the first one works out and then talk about another one somewhere down the line. My gut instinct is that this first one will either be a wash (no impact) or some type of disaster (stoke inflation; drive up the national debt, incentivize unemployment and divert capital from more productive investments). ...I'm heavily inclined to believe it will be a disaster. I'm with the guys who say no stimulus is needed. All this government interventionism is only causing more anxiety and uncertainty. When will it all end?!?

    March 12, 2009 at 4:04 pm |
  35. glenn andrew in Texas

    Jack if you add Geithner's 51 score to President Obama's 59, that gives us about 110%, which is just about the effort it's going to take to get our ship righted. Another stimulus is certainly needed, but this time let's do it different, and do it right. No more excuses or blaming the Republicans. No more porlk. Let's have the President do what he thinks is the right thing to do, since he has put disclaimers on everything else he has approved. This time no excuses. His honeymoon ended when he got caught fibbing on his campaign promise on pork and earmarks. Why not think outside of the box and say "no pork this time!" Just say no, Mr. President! Mr. McCain can show you how to say it, if you can't figure it out.

    March 12, 2009 at 4:04 pm |
  36. Rich Massey

    We would have been better off giving all of this stimulus money directly to the public and then let them spend the money and save the country. All of these politicians in charge of giving out our money are exactly the people that sat by a watched as this problem was created. The problem with this stimulus and any future stimulus is that the "inmates are running the asylum!"

    March 12, 2009 at 4:04 pm |
  37. Brandon H.

    Currently, I believe we need to wait at least 3 months to allow the current package to be significantly used before talking about "Oh, it's not working or we need another stimulus". We needed some type of stimulus to jump start the economy but just as when you jump start a car you leave it running for a few minutes to see if another jump start is needed...

    March 12, 2009 at 4:05 pm |
  38. Meg

    I do not think so. I think it is time for the Democrats and Republicans to stand back, let the first stimulus do its thing and let the market correct itself. BOTH sides got us into this mess by tampering with the economy. Just leave it alone for a while. Too much spending too fast may actually have the reverse affect.

    March 12, 2009 at 4:05 pm |
  39. Nancy Brenner

    Mr. Obama needs to focus on the banking system. Mr. Obama needs some capable people in Treasury. Mr. Obama needs to back off of "long term structural change". Mr. Obama needs to realize that he's not the second coming.

    March 12, 2009 at 4:05 pm |
  40. LInda in Bisbee, Arizona

    You're asking US? How the hell should I know? I wouldn't even presume to pretend I know enough to answer that question. However, if it does turn out that we need another shot of money, I'm sure the republicans and DINOS will try to block it for political reasons. Country last, as always.

    March 12, 2009 at 4:05 pm |
  41. Steve G.

    We need a 2nd economic stimulus package like we need a 2nd Great Depression. The first stimulus package will be a colossal waste of money, that we don't even have!

    A better solution would be to suspend all Federal Taxes (income, Social Security and Medicare) for a year and let the hard-working citizens of this country keep their money.

    Yes, we'd still rack up deficits but without the middleman (i.e. Uncle Sam), those tax-free dollars would go a lot further toward jump-starting the economy.

    Steve
    PA

    March 12, 2009 at 4:06 pm |
  42. Amy-GA

    A second one? Let's give the first one a year or two to see how it actually helps before they even think about throwing more money away. This is getting unbelievable.

    March 12, 2009 at 4:06 pm |
  43. Ron

    Jack,

    If there is one thing for certain, it's that the so called experts don't really know what is needed. This is uncharted territory for all of us and anything that worked in the past doesn't necessarily apply. I hear on all of the cable news programs experts who claim this won't work and that won't work but how do they know? Give what's been done a chance to develop before you say you need more. This is certainly not an overnight process but I can certainly appreciate the people that are really hurting being impatient. The Madoof effect is hurting us all.

    March 12, 2009 at 4:06 pm |
  44. Luke

    The real question is: did the U.S. need the first economic stimulus package? The people buying houses and expensive goods on terrible or imagined credit still can't afford the things they're now, correctly not being permitted to buy. Those who can and always could afford things aren't going to suddenly start spending beyond their means to make up for this. The economy was horribly over-inflated, and a correction – even this extremely painful one – has been needed and long overdue. It won't be quick, and it won't be pretty, but the system will correct itself and we will emerge from this in a more stable position, with or without a "stimulus."
    Luke – Toledo, Ohio

    March 12, 2009 at 4:06 pm |
  45. Evan - Nashville, TN

    I hear a lot of regular, working-class people complaining that the Gov't should give every individual citizen a portion of money. Then they complain that the Obama Administration is socialist. It seems to me that another stimulus package would be a step closer to communism rather than socialism. Am I wrong?

    March 12, 2009 at 4:06 pm |
  46. ryan

    The US needs another stimulus like Madoff needs another client.

    -Ryan
    Bloomington, Indiana

    March 12, 2009 at 4:06 pm |
  47. ctlaj

    The truth seems to be that no one really knows what is needed to get us out of this current economic crisis. Look at Wall Street – record losses week after week and then CitiBank reports positive numbers for the first two months of 2009 and Wall Street has a rally.

    That two months of profit costs the American Taxpayer $180 BILLION dollars. If it weren't so sad it would be laughable. Two months of positive numbers does not mean that Citi has turrned the corner by any means. There is still no plan for dealing with the bad loans that are an albatross around the neck of Citi. There may be no way to handle these toxic assets other than to just bite the bullet and take the hit.

    Congress does not even need to consider another stimulus bill until we see what the next few months bring. At some point, it may be necessary to let one of these big banks or AIG go into a controlled failure – selling off the assets that have value rather than continuing to prop them up by putting in more billions of dollars.

    March 12, 2009 at 4:07 pm |
  48. Daniel

    It was long ago the American economy started to fall (thanks’ to the Bush administration) down but, with a speedy downfall after the banks and mortgage failure. The question is how to reverse the economy? The current administration seems to handle the situation very seriously and doing fine to my point of view. What has becoming the problem is the Republican negative political game. It is obviously a good question to ask why they oppose the stimulus package. The answer is very clear that the republican has lost the political ground thus; they will do anything to see the current administration fell. Therefore, if the American treasury affords let alone one ten stimulus package let it be done and let the American dream reversed again. To do so one should give republican’s deaf ear.

    March 12, 2009 at 4:07 pm |
  49. Desiree

    Isn't the definition of insanity doing the same thing over and over again expecting a different result? Another stimulus package is just that...insanity run amuck.

    Atascadero, CA

    March 12, 2009 at 4:08 pm |
  50. Melissa Ives

    I haven't really personally seen any benefits from the first stimulus package? My paycheck is still the same, when are those tax credits supposed to take place? From what I read it is only going to be a few dollars a paycheck, WOO HOO, that is really going to stimulate the economy we might be able to eat dinner at McDonald's one more time a month! We need more !

    March 12, 2009 at 4:08 pm |
  51. Carleen

    Instead of bailing out "Corporate America" and "Wallstreet" why not pay the taxpayer a large sum of money, say $10,000, so they can SPEND it and bolster our economy? At least then we'll ALL benefit from a bailout! And it'll probably cost LESS in the process!

    March 12, 2009 at 4:08 pm |
  52. Sonny from Kansas City Missouri

    History shows that when government steps in to resolve economic issues, it ultimately prolongs the recovery process. Throwing money at theproblem only results in one outcome.......debt for future generations to overcome. I wish my financial problems could be solved by me just throwing money at it......money that I don't have.......the exact same strategy that our government is deploying today......borrow, borrow, borrow. China is the biggest financier from which the United States borrows from. Our country is not only dependent on oil for our daily lives, but our country relies too heavily on borrowing money from foreign countries to sustain itself. Our government, the people of this nation are going to have to live within our means in order to get out of this viscious cycle. If individuals are expected to live within their budgets and not receive "bailouts", then why should our government and financial entities not be held to the same standards?

    March 12, 2009 at 4:08 pm |
  53. Judy from Minnesota

    I thinkthey should wait to see if this latest one will work. If it appears that it is not and determined that additional money is needed (remember that many economists siad it wasnt' bold enough) then I say go for it. We can repay the borrowed money when the economy improves. Bill Clinton did it, so can Barack Obama.
    I am so sick of the nay sayers. They are as much at fault for the continued fear on main street. The constant gloom and doom, woe is us attitude would depress anyone.
    Come on people! This is America, pull yourselves up, put a smile on your face and let's pull together 'cuz we're scertainly in it together..

    March 12, 2009 at 4:08 pm |
  54. Kevin Jones

    Jack, one more stimulus plan not aimed at tax payers (and we know that isn't going to happen) and these politcians may end up in Boston Harbor with the tea. If they really want to stimulate the economy to the tune of a trillion dollars, they need to put the money where it would be the most effective. In the hands of the consumer and let the free market react. If no one is spending money it is in part because they dont have it and it goes without saying can't borrow it so quit giving to people to loan.

    March 12, 2009 at 4:09 pm |
  55. karen-phoenix

    What media commentator started this????? Nancy said today it is NOT even time to talk about a 2nd package!!! She said let this one work first!!!! Are all of you commentators not busy enough and trying to make news???

    March 12, 2009 at 4:09 pm |
  56. Tom

    The economy is broken. The engine that runs our nation has thrown a piston and is leaking oil, everywhere. Putting in more oil is not going to fix the it, you need to fix the actual problem and not the symptom!

    Our economy has so many problems, we need to get a grip on exactly what those problems are and address them. Don't pretend there is no problem "a little oil" couldn't fix.

    Throwing good money after bad is going to just dig a bigger hole. Our Congress needs to understand this, NOW! We cannot afford this!

    March 12, 2009 at 4:09 pm |
  57. Brant

    It is way too early to begin accessing the effectiveness of the American Recovery and Reinvestment Act. Federal dollars are still being allocated to the states and many state and local governments haven't solidified their plans for what to do with the money. Give the $$ a few months to get out there and then we can begin to effectively critique the stimulus.

    Bloomington, IN

    March 12, 2009 at 4:09 pm |
  58. James Luallen

    The pessimistic nay-sayers are our biggest problem at this time. It is too soon to judge the first stimulus effort; and it is too soon to know if a second stimulus bill is going to be necessary. Of course, government spending is the primary means of turning the Bush Administration's colossal failure into something stabilized – that is not sinking any further. But, only panicking, overly anxious Americans are sqwuaking the criticism, now. Let us all resolve to not listen to them.

    March 12, 2009 at 4:09 pm |
  59. Scott Morrison

    Jack, this must be a bad joke! Discussion of another stimulus package is absurd. Anyone who utters the request for more taxpayer funds should be forced to indicate where every penny of the last bill went, and moreover, they must provide us the taxpayers with a logical explanation as to why they should get re-elected to Congress in the upcoming mid-term elections if they are incapable of governing. Our elected representatives don't have the economic acumen to govern a local school board let alone the United States Government. Well, I guess the joke is on us. We are responsible because we re-elect the same incompetent people to push the same bad policies year after year without holding them accountable.
    Scott (NY)

    March 12, 2009 at 4:09 pm |
  60. Jim

    No...just start giving money to the people instead of the banks that didn't request it and financial institutions of questionable character, like AIG.

    March 12, 2009 at 4:09 pm |
  61. Andy

    I think that what we need is for many people to lose their sense of entitlement and their greed. We are the laziest, most spoiled country on earth, and we should be embarrassed for thinking that everything comes easily and should be given to us.

    March 12, 2009 at 4:09 pm |
  62. Randy

    Jack - enjoy your comments. I think what is needed is not another stimulus package but a "HOUSE CLEANING" on capital hill. Throw out the whole bunch and elect new people! We have Senators and Representatives in Washington that have been there so long they don't know what is good or bad for the country. They live in a dream world, enjoying the perks of government jobs and not listening to the people. I don't care if they are democrat, republican, or independent, throw them out!

    Williamston, NC

    March 12, 2009 at 4:10 pm |
  63. Eric Thompson

    Exton, PA

    We do not need another stimulus package. The more money we dump into this "problem economy" the more we will lose and the more likley it will be that a depression will occur. The economy is a living and breathing organism. It cannot be resurrected by legislation and bail outs. This reckless spending of money to keep jobs afloat will only increase the chance that the problems and mismanagement of funds that got us here today, will occur again.

    What we need to do is focus on setting up a plan for when the economy recovers and how business will be conducted then. Let some of these companies fail. Let them drop off the face of the earth. Others will fill the void they leave behind. But if we keep throwing money into a bag with a Wall Street sized hole in the bottom, we'll continue to simply lose money and start at a much lower level when we do being to recover.

    March 12, 2009 at 4:10 pm |
  64. Shane, Atlanta

    Two words: Hell No!

    However, if the Dem's have to spend more money and pass another one, it will have to total more than $500 Billion as I am all to aware that no bill can pass this Democratically controlled Congress without a few hundred Billion in extra pork!

    March 12, 2009 at 4:10 pm |
  65. Judy from Minnesota

    I thinkthey should wait to see if this latest one will work. If it appears that it is not and determined that additional money is needed (remember that many economists siad it wasnt' bold enough) then I say go for it. We can repay the borrowed money when the economy improves. Bill Clinton did it, so can Barack Obama.
    I am so sick of the nay sayers. They are as much at fault for the continued fear on main street. The constant gloom and doom, woe is us attitude would depress anyone.
    Come on people! This is America, pull yourselves up, put a smile on your face and let's pull together 'cuz we're certainly in it together..

    March 12, 2009 at 4:10 pm |
  66. Bill in California

    I haven't seen the first one yet. There was a huge spending bill (and I do mean BILL) shoved down every ones throat disguised as a STIMULUS package early in the new presidency. There has been no focused response to the immediate crisis from our new leader, just a need to fulfill his leftist agenda.

    March 12, 2009 at 4:10 pm |
  67. Stacy from Leesburg, VA

    Jack, if we need to do it, then we need to do it. But, we should allow the first stimulus package to get started and take root before we talk about a second one. The daft members of Congress continue to play games with their political ideologies, as opposed to “doing the right thing”. I have one solution to fix their ineptitude: Term limits now. Term limits tomorrow. Term limits forever!

    March 12, 2009 at 4:10 pm |
  68. belladonna

    At this point in the game, how do we even know whether the bill that was just passed is even working? Give it time!! This is the first pay period that we have seen an increase. Isn't this the kind of thinking that got us into this mess in the first place. Leave it to Americans to want everything RIGHT NOW!

    March 12, 2009 at 4:10 pm |
  69. Dan Armstrong

    No Jack, we don't need another stimulus package. What we need people to realize is that we didn't get into this mess overnight and we won't get out of it overnight either. A multi-trillion dollar global economy does not turn on a dime.

    President Obama has put some good ideas and policies into play, but they will take time to start working. He is showing that it is more important to govern once you are elected, than to play political games. A shame the House of Representatives can't see past the campaign and come to the same conclusion. We need to be patient, toughen up and let these policies work, which they will, if history is any indication.

    March 12, 2009 at 4:11 pm |
  70. Kim Montreal, Quebec, Canada

    How about spending ALL of this package first?!? Then evaluate and decide if more is necessary. Everyone wants Obama to move so fast that his solutions aren't given a proper chance before being cast aside amidst demands for "Something More" or "Something Different"!

    March 12, 2009 at 4:11 pm |
  71. Ron from Coalinga California

    So the economists don't like the idea of another stimulus package. There's an old saying, "With enough data and a good model, an economist can make as good a guess as anyone else."

    March 12, 2009 at 4:12 pm |
  72. Carolyn Holland

    Yes, this time instead of making it easier for individuals to receive credit thus accumulating more debt, allocate a set amount for each citizen to be distributed by the credit bureaus. This set amount will be used to reduce each citizens debt (also, helping banks and creditors who extended this credit). If a individual has no debt, a check should be generated for the set amount and mailed to them.

    March 12, 2009 at 4:12 pm |
  73. Joshua

    YES! And this time lets leave those pesimistic Republicans and their bad ideas out . Send them to Crawford, TX with their leader.

    March 12, 2009 at 4:12 pm |
  74. Sherri Illinois

    Remember Jack that President Obama from the beginning stated the Stimulus package should be upwards of $1TRILLION dollars and majority of economists agreed with that assessment. Unfortunately the Republicans started their NO campaign looking ahead to 2010 & 2012, blocking & chopping the package down to $787 Billion. The Republicans know that the stimulus package in its form would not be enough to because of the continued JOB losses and consumer spending freeze. I have faith in President Obama if he is able to do what must be done without the party of NO looking at their personal political aspirations instead of John & Jane Doe USA that has been forgotten for 8 yrs and just wants a even playing field and JOBS JOBS!. This country will not get on her feet again as long as we have the Republican Obstructionists who want President Obama to fail.

    March 12, 2009 at 4:12 pm |
  75. Simpliticus

    Consider the disposition the President has been placed. He is looking at deficits as far as the eye can see from the disastrous Bush administration. No surplus greeted Obama when he took office as opposed George W. Bush which Clinton provided him. Two trillion dollars are not easily obtained when the country is tanking, again, thanks to George W. Bush. Jobs are falling by the wayside, meaning, revenues for states and the IRS are going to fall, Bush again!. With the concept of the multiplier effect, known to economists, its is most difficult to throw money into something not knowing how or when such might take affect which means another stimulus plan is nearly necessary. And as the stimulus is only a small fraction of what is outstanding, this multiplier effect is THE most enticing faction associated with the stimulus plan, given the amount of money required to offset the trillions lost. How does one spend money under these circumstances? McCain ought to thank the stars that he is not in Obama's position. Griping is cheap compared to the anxiety Obama is going through in order to save this country!

    March 12, 2009 at 4:12 pm |
  76. Brizzle From Texas

    The first stimulus failed. It's not working. Let's have another stimulus package. However, let's put the money in the hands of the taxpayers this time... Let the people vote where the money should go by letting them spend it wherever they wish.

    March 12, 2009 at 4:12 pm |
  77. Allen L

    Seems like another opportunity for Congress to fund some more pet projects and other economy non-stimulating handouts of our tax dollars like some of the original stimulus bill... Frankly I am surprised Speaker Pelosi didn't jump at the chance to throw more money away...

    Seems like the prudent thing to do would be to allow the US economy to right size itself and then it will rebound on its own, but that will be very difficult for those of us that have lost our jobs...

    Since much of the problem is Americans spending more than they had, it seems ludicrous to fix the problem with more spending...

    March 12, 2009 at 4:12 pm |
  78. Derek

    Jack, I have had enough with these stimulus packages a.k.a bailouts. The Obama Administration and Congress are doing nothing more than throwing money everywhere and sitting there hoping the economy will recover. All we need to do is wait and see how the economy goes from here. Time can only tell.

    March 12, 2009 at 4:13 pm |
  79. Simon

    No! We don't know where the TARP money went. If the buffoons in Congress pass another spending package, we'll all be eating canned beans under a bridge while the fat cats eat our tax dollars and drink our tears.

    March 12, 2009 at 4:13 pm |
  80. Joe in DE

    Too early – shoun't be considered for at least 2 months.

    March 12, 2009 at 4:13 pm |
  81. ken

    I believe that if the goverment is going to do another stimulus package,
    they need to just give it all to all regular people who pay their taxes. This would enable people to take vacation, pay bills, paydown on their mortgages and even buy some american cars. What difference does it make since the goverment are not goiing to get any of this money back anyway.

    March 12, 2009 at 4:13 pm |
  82. Ryan in Portland, Oregon

    I am not certain if one is needed but if given a chance to get free money I think any institution would gladly accept it. The only problem I see is that the the institution that needs the money the most, the household, will once again draw the short stick.

    March 12, 2009 at 4:13 pm |
  83. Ben, Clifton Park, NY

    No, No No, let banks bankrupt and people liberate from debt. Those who support economic stimulus are paying for their own neck noose.

    March 12, 2009 at 4:13 pm |
  84. Larry

    No, the economy does not need another stimulus package,,just some confidence that what has been put in place will work. Also, the American people and the Republican (and some Democratic) party needs to back off and give the economy some time to recover. Most American people actually BELIEVE what they hear coming from out leaders and the media so if someone would just admitt that it took Mr. BUSH 8 years to mess things up, they could at least give President Obama more than 50 days to fix it...and last, I would rather not hear from Sen. John McCain for a while,,,We heard enough of his nonsense over the past 18 months,,,give it a rest,,you lost, and lost big time,,,

    March 12, 2009 at 4:14 pm |
  85. joanne

    Seems the more the government tries to help the economy the worst things get. If they do decide to do this again lets give it to the people and let us do what the government can't seem do stimulate the economy. As for the greedy Wall Steet and the banks let the chips fall where they may.

    March 12, 2009 at 4:15 pm |
  86. Shelley

    you say:
    "with 43 percent saying the U.S. will need another package of about $500 billion. Others were doubtful that we needed any stimulus plan at all."
    This could translate to non-thinking people that 43% say we will need another package and the rest say we don't need any plan at all. Can you put the percentage of those who don't believe we will need a plan at all?

    March 12, 2009 at 4:15 pm |
  87. DM - San Diego

    The experts have mixed feelings about the need for another $500 Billion stimulus? Let's ask the American taxpayer. $500 Billion divided equally among every U.S. taxpayer... Would that stimulate your economic situation or not?

    March 12, 2009 at 4:15 pm |
  88. Mary Jo

    Yes, if we want to contain a recession headed for a depression.

    March 12, 2009 at 4:16 pm |
  89. Javier in BLUE(2012) TEXAS

    Hmm... 2nd stimulus package. The dems are right- we cannot "rush to failure" like some thickheaded talk show hosts.

    March 12, 2009 at 4:16 pm |
  90. M J

    My question is, where were the so called experts before we got in this mess? Why didn't they voice their opinions before now! We needed help before the crisis. I think their words means as much as their solution from preventing this junk of an economy we are in, "NOTHING". I wish these so called expert find the nearest tall building, and jump off of it.

    March 12, 2009 at 4:16 pm |
  91. Stephen Antoniadis

    what will it take for these idiot politicians to wake up!!! stop allowing our jobs to freely move out to columbia, peru, mexico, pakistan, china, the list is endless!! stop the free trade policies that have crippled this country that was once the envy of the world. it sickens me that these people balk at the very folks they are supposed to listen to, instead of allowing more chinese garbage to be imported free of charge we should be taxing the hell out of it to make it more costly to want to buy this crap from walmart so that American companies would in turn see an increase in their product being sold. & as for paying for the rebuild of iraq & afghanistan this is a national disgrace, we have tens of thousands of people in this country that have been all but forgotten by the government!! just look at New Orleans or Homestead Florida years after the storm, or take a close look at returning vets coming back to no job!! president obama & bush b-4 him have left all of us in the cold, there has not been a president in this country who cares about its people since 1942. the sooner the people wake up & realize this & start demanding real change by the administraion the better off we will be. & dont even get me started on all the ILLEGAL ALIENS!!

    March 12, 2009 at 4:16 pm |
  92. Dee in Florida

    No.

    What I think we need is for those who have all the money to STOP pitting us against one another. And that is what is happeneing. The average people are blaming each other for this economic mess, like any of us had anything to do with it.

    And I certainly don't want to hear anything about the housing meltdown, if the blame is put on the BUYERS.

    Maybe some over bought. Fine. But if you want the TRUTH, take the time to look up the addresses of the homes being foreclosed on, then take an educational drive and look at those homnes. They are NOT McMansions, but the HOMES of working Americans.

    I think what we need is a lot more severe than an economic stimulus package. We need a housecleaning!

    March 12, 2009 at 4:16 pm |
  93. pat in michigan

    no. save that money for the universal health care that every other civilized nation seems to have

    March 12, 2009 at 4:16 pm |
  94. Gigi

    One thing I would like to know who gets the stimulus package? does every American including the rich making over $250,000. Or just those making less than that. If your giving to the down an out fine. If your giving it to everyone, no. My kids (who can't find work) got my first one I can't afford to help anymore.

    March 12, 2009 at 4:16 pm |
  95. JS

    Money si power in this country, all we do when we give/provide money to an individual / institution is give them power. This is why the Public, regular Jack & Jill will not see direct stimulus aid / perks, we will see it indirectly if at all.

    Do people really still believe we the people, are in charge?
    It's 2009, get with the times.

    March 12, 2009 at 4:16 pm |
  96. Casey in Sebastopol, CA

    I've heard the expression "4th branch of government" but could the mainstream media just give it a rest for a change?

    But I suppose that's your way of guaranteeing jobs - your own, anyway. Give the President a month without the constant carping of the media circus! Then we can see what happens without the influence of all the talking heads and make a better decision.

    March 12, 2009 at 4:16 pm |
  97. Tom

    We CANNOT borrow our way out of debt. This is typical bloated government thinking. Put an END to socialism in the US – End the Bush & Obama insanity. It's our money, stop taking it from us and we will manage it better than the government ever could!!

    March 12, 2009 at 4:16 pm |
  98. Chris - Denver

    Probably will eventually be needed, but it makes no sense to be talking about it now, when the first one has hardly had time to take effect.

    March 12, 2009 at 4:17 pm |
  99. John, Fort Collins, CO

    Considering the total lack of science behind the "what" and "how much" in the curruent stimulus packages, I think it would be well to hold off until we can gauge the effect of what is already out there. It is sort of like targeting artillery; fire a test round, see where it lands, then start adjusting it in from there. It makes no sense to shoot all the amunition at once.

    March 12, 2009 at 4:17 pm |
  100. Jenny

    We do NOT need another stimulus package. We need a government who understands the concept of a BUDGET! If a family is in over their heads, what do they do? They sell the nice cars and get affordable ones, cut up credit cards, eat at home, shop at "bargin stores", shop for cheaper car insurance, refinance the home and over all cut as many corners as possible to get overhead expences cut, debt paid down and get the budget under control. Our Government (House, Senate and Presidential office) seems to think spending countless amounts of money is the answer??? I understand the need to help get things moving but seriously the amount of pork barrel spend is out of control! The line between NEED and WANT needs to be drawn or we will go into a depression with the government leading the way down that path!

    Jenny
    Portland, OR

    March 12, 2009 at 4:17 pm |
  101. Linda from Toms River, New Jersey

    Do we need another stimulus package? Why don't we wait awhile to see if the current one works?

    March 12, 2009 at 4:18 pm |
  102. john mockus

    Jack,
    Are these the same economic experts that said nothing in the last , lets say 3 to 5 years? The everything is OK group. Now, just weeks into the Obama term we need a second influx maybe? Just how much did the idiots we elected ,let the wall street boys gamble with our lives . And what is it really going to cost us to fix? that is what we should all be asking.

    March 12, 2009 at 4:18 pm |
  103. Jeff Gedney

    Frankly, Jack, I have had it about up to here with economists.

    You know how the old saying goes?
    "If you want several opinions ask an economist"

    These guys can't seem to predict their way out of a paper bag.
    If they could, why did my 401k, managed by people with economics degrees, evaporate last year?

    I'll start listening to economists when they are able to say the same thing two months in a row!

    March 12, 2009 at 4:18 pm |
  104. Zac, Atlanta GA

    I think Obama should just carry out his policy as promised, which will get us through this bear market. His emphasis on green jobs, modernizing healthcare, cutting waste, balancing the budget, will all lead to an increase in economic efficiency. I guess you can call it a "stimulus" if you want, but the electorate might not digest that label well.

    March 12, 2009 at 4:18 pm |
  105. ER

    They only way the country will ever recover ( it won't, go say sorry to your children they will be poor all their lives) is to raise taxes, something Reagan said was wrong and the country has believed it to be true all along, institute universal health care and education, and begin taxing corporations that send jobs overseas, and hold financial institutions responsible for risky and immoral practices . The Govt can fix things but it has to raise taxes to begin to cut into the national debt, this has to be a group effort, enough of the the govt is taxing me I should spend my money! We tried that and Americans have been spending and living far above their economic means for far to, we will have to scale back but it is the only way forward

    March 12, 2009 at 4:18 pm |
  106. Dean in Pa

    Jack,

    I say wait at least 4-5 months. Just because a bill is passed today does not mean everything will be okay tomorrow.
    It took years to screw up the economy and people expect a turn around in less than 2 months, that's like investing $5.00 today and expecting it to turn into $100,000 in a week, if we could do that we would all be buying our own island somewhere and we would be king of our own little world.

    March 12, 2009 at 4:18 pm |
  107. Jeff

    First of all, there is no such thing as a recession. The term was coined after the Great Depression because the "D" word was now scary. We are in a depression though not a Depression.
    Government attempts to control the market are causing the market to over-correct. It shouldn't have fallen as far as it has and will likely keep falling. Printing money to fix the problem, as we're doing, doesn't work. The most recent example of that approach is in Zimbabwe. It leads to hyper-inflation and a dead economy. We cannot afford any more stimulus/bailout plans.

    March 12, 2009 at 4:18 pm |
  108. Raj

    Yes definitely, but when the first one starts playing by reducing the unemployment rate; when the bankruptcy’s take a home run. How can we even think of a second until the financial organizations take the playoff spot in the forbes top 10 Fast growing.

    Pittsburgh, PA

    March 12, 2009 at 4:19 pm |
  109. Mike Klynsma

    Glad to hear that the Democratic Party is so confident in the plan they created. Perhaps they should have put more time and effort into the first one. It seems to me that as long as the government is the one spending the money we are going to be stuck in a holding pattern with the economy. Maybe they should consider funding free finance classes to the public, particularly to Wall Street CEO's, and our government representatives.

    Mike
    Hospers, Iowa

    March 12, 2009 at 4:19 pm |
  110. James

    I need more time to figure out what was in the first one!

    James
    Dallas, Texas

    March 12, 2009 at 4:19 pm |
  111. Agnes from Scottsdale, AZ

    Jack: The answer is "we don't yet know." We're in unchartered territory and the propensity is to go negatiave on what we don't know. There will be a rush of commentaries on why we do/do not need another stimulis package. As the jobs report and unemployment numbers steady, there will be less liklihood that it will be necessary. We need to act at the right time. We're not there yet.

    March 12, 2009 at 4:19 pm |
  112. Melanie in rural IA

    Yes, if it contains an ear marked job for my husband. Who has been self employed for 30 years, and his business has dried up, no unemployment benefits and no job prospects at 59 years old. That $13 a week tax break in April won't cut it, nor will a $600 rebate. I PERSONALLY know 102 people who have lost their jobs in the last year. We need JOBS NOW, not tax cuts and rebates.

    March 12, 2009 at 4:19 pm |
  113. Tom - Tampa FL

    Oh definitely! That will give the Dems AND Republicans another chance to load it with pork ...

    March 12, 2009 at 4:19 pm |
  114. William A Polf

    Absolutely. And now.

    March 12, 2009 at 4:20 pm |
  115. Kyle W

    No we do not need another package just as you don't need another beer!! Those retards in on the hill are going to spend this country to the ground!!

    March 12, 2009 at 4:20 pm |
  116. Craig- Hastings, MN

    You know Jack, an "expert" is someone who thinks they know all there is to know about something but in reality knows very little about anything. I spent 33 years in the aviation maintenance business. I'm sixty now and am still learning things about aircraft every day even though I'm retired (disabled). Some people's kids you know. Maybe some day these "experts" will finally learn. I, however, have my doubts.

    Keep up the good fight buddy and may God bless.

    March 12, 2009 at 4:20 pm |
  117. Tanya, Princeton, NJ

    At this point, who knows? We are in such dire straits, our economy could collaspe at any time.

    March 12, 2009 at 4:21 pm |
  118. Mark

    The last thing the U.S. needs now is another Stimulus package like the first one or the "Bank Bail Out" package.

    What we NEEDED was a well thought out, properly monitored plan to begin with. The bank plan was a total abortion...no oversight, no rules, no checks and balances...just a handout for the corporate suits to waste as they see fit. The same corporate suits that wasted themselves into their current position of failure.

    Congress and the Senate denounced the plan and proceeded to do the same thing (in principal) with another $787 billion. They threw together an overstuffed package full of projects they wanted to fund and then stood up and said lets all get onboard and send out a bipartisan package. What they meant was the majority has spoken, now the minority needs to come over to our side and agree with us.

    IMHO we should fire everyone in Congress and the Senate and start over with a new crew that understands bipartisianship (or better yet in this case no-partisianship) and that are willing to work together for the common good of the People!

    More money will not fix the dire condition we find ourselves in now. In fact throwing more money at the problem at hand will only ensure our failure in tackling the much larger problem looming over us: Our Future.

    March 12, 2009 at 4:21 pm |
  119. monica von berndt

    Jerome Idaho The republicans should all be made to wear duct tape over their crying mouths at least for the next 8 years thats how long they had their say. It is just a GOP attention snatcher away from the real issues when they start putting blame on this administration for this countries woes. If we need another stimulis package then we need one that is why I voted for President Obama I trust his judgement

    March 12, 2009 at 4:21 pm |
  120. Susan

    I would love to see another stimulis package as long as it comes in a form of a check to us. I know Obama is trying to get America back on her feet but at the same time where is this money coming from? The way I see it is we put ourselves into this mess and we should have to dig our way out by ourselves! We, Americans, live way beyond our means and spend money way to freely. This has happened once in our past and even though it may take longer to get out of this depression I do believe we can do it with have to pass bills for money we don't have. If they keep doing this our dollar is going to be worthless to another country. Yes, people are going to have to make serious changes in how they spen their money and I am sure it will change their life, but if you don't have money you can't live the life you are use to.
    Yes, my family is struggling to make ends meet. We just moves back to the country.. we were stationed overseas in the military... We are having a hard time making ends meet. We have 6 kids and after all our bills are paid we have $114 left over for food and gas. Which isn't going to be enough. If we can't figure something out then we will have to start giving up the little things. We have lowered our cell phone bill, we are talking about giving up some of our extra coverages on our renters insurance coverage, we are trying to sale some of our belongs, we aren't using our a/c or heater so we don't have a high electric bill, we are going to have to raise our deductible on our car insurance to save extra money.
    I don't want people to say I am complaining b/c I am not. I do know that we put ourselves in this postion and not anybody else. My husband has tried looking for antohter job but nobody seems to be higher. Go figure.

    March 12, 2009 at 4:21 pm |
  121. Jennifer in Winnipeg

    Only time will tell, Jack. But I'm glad to see that a number of conditions have been put on this one. Don't know who, but someone in the House said that the companies receiving this money should be regularly audited. I agree wholeheartedly with that ... it's the first time I've heard that word used since this whole thing started. I can't believe that the IRS wasn't called in to audit these banks/auto makers, etc. in the first place. It's the only way to find out what's really going on in these companies.

    March 12, 2009 at 4:22 pm |
  122. Alan Bechtold -- Bonita Springs, FL

    FIRE THE ECONOMISTS. They're the ones who pushed all the crap we're dealing with now down our throats by way of their lobbyists. Some of these folks are WORKING for the banks that are stealing our tax dollars after damn near ruining the country in the first place. Give it time. Cripes. How much of the stimulus has even been RELEASED into the economy? Idiots!

    March 12, 2009 at 4:22 pm |
  123. Ken

    I do not believe the question is do we need another "stimulus". The real question is was the initial payoff for party support adequate (that is, the first "stimulus"). There is NOTHING in the first stimulus package that is not simply a thinly veiled "reward" for party support. Look at the bill – NOTHING. It ALL goes to benefit Teachers Unions, Labor Unions (infrastructure projects), Community Organizers like ACORN, and other select constituents. Our children will be saddled with this debt for decades, and the Democrats will continue to chant "It's all Bush's fault".

    March 12, 2009 at 4:22 pm |
  124. P Fstr

    I think that rather than bailing out companies... we need to hit a little closer to home – how about bailing out people with student loans? You want to see real infusion back into the economy bail out those of us who went on to get Master's degrees with the understanding we could get better paying jobs... right now – I am lucky if I can get a job at Wal-Mart stocking shelves at 2AM.

    March 12, 2009 at 4:22 pm |
  125. Daniel

    Talking about a second stimulus now is incredibly naive. The effects of the first one won't be significant for months, and no one will know if it really worked at all till at least late this year. We may not know till late NEXT year...... Sit tight and ride it out. Nobody said it would be quick or painless. It will take years for the economy to reverse the damage that the Republicans have done.

    What we DO need now is to lay the groundwork for preventing similar disasters in the future. Let's start by prioritizing the needs of LONG TERM economic stability, and eliminating wasteful and ineffective government spending. The best thing Clinton ever did was to shut down the government three times and force the budget into balance. Now is the time to decide what we are willing to stop spending on. I suggest that all military be brought home unless they are in Afghanistan. Let's clear out of Europe and Asia. It's time time to quit wasting money defending countries that can defend themselves.

    Secondly, it's time to CUT Social Security. Yep... cut it now, or at least freeze all benefits until revenues catch up with expenses. I don't think we should increase the SS tax, just start by freezing virtually every Federal expense, until we can pay for it without borrowing the money.

    That's the only way we'll ever get long term stability.....

    March 12, 2009 at 4:22 pm |
  126. Brian Knox

    We do need stimulus but not in spending. We need a jumpstart in ideas. Barack Obama outsourced his promise for new ideas to the good old boys of Washington and he got the same pork-laden, self-serving policies that's made "Capitol Hill" a dirty word. Until now this policy snafu has largely been hidden under the aegis the Mr. Obama's popularity. The more they ask the American people to sacrifice for those incorrect ideas the more the reality of the recession will wreck Barack Obama's superstardom. Another stimulus will kill Obama's moderate support.

    Along the same line, I personally would rather SEE a sermon in economics from the White House than hear one any day. The Obama team fumbled on their first possession with their nominees' tax problems (damaging their credibility) and their reliance on Nancy Pelosi and house democrats to craft and cram the $800 billion stimulus bill. If Barack Obama could SHOW me that he knews what he's doing, rather than just saying he does, I'd be much more supportive.

    March 12, 2009 at 4:22 pm |
  127. John, NC

    First of all, let's go back to yesterday Jack. Our president signed this stimulus package with all this PORK in it, when he said he didn't want any earmarks. I feel betrayed in some way. So let me think...NO! WE DON'T NEED TO STIMULUS WASTE NEITHER GREED!

    March 12, 2009 at 4:23 pm |
  128. Nick D

    Jack-

    I think we need to give the first medicine some time to take effect. Another stimulus package in as many months would be akin to taking an Advil for a headache and then taking one five minutes later because the first one isn't working fast enough for your liking.

    Printing more money doesn't help. It only adds to what we owe later. The $787 billion that's already been spent will be worth it if it works. If it doesn't, perhaps spending ourselves out of a recession isn't going to be the way to do it.

    March 12, 2009 at 4:23 pm |
  129. Geoff Calver

    As a recent college graduate who found employment as an editor and then soon lost it due to the economy, I can honestly say that I am disheartened by our government. They waste money on ridiculous proposals and garbage-loads of pork while calling this spending a stimulus. Regulate how our stimulus money is spent, come down hard on those who have manipulated the system and led to this crash, and please don't even begin to suggest that things are getting better. I just was hired yesterday for an internship at a publishing company - yes, an intern, starting over - only to be told today that unfortunately they couldn't afford to pay me $80 a week for 10 hours of dredge work. So, another stimulus? Only if it actually does something beyond bloating egos and advancing pet projects long put on hold by the past administration.

    March 12, 2009 at 4:23 pm |
  130. Rob

    I think the crutch of this thing has to do with banks holding toxic assets. It is the one lightning rod that we all understand and have viable solutions for. Instead of injecting more money into our economy while the banks stagnate, lets buy up those assets and get this show on the road!

    March 12, 2009 at 4:24 pm |
  131. Arlene, Illinois

    I'll just wait for the "Experts" to tell me what to do!
    Seems they have been doing a good job lately. Riiiiiight....

    March 12, 2009 at 4:24 pm |
  132. Star

    I would feel better if our government stepped up and in and gave the victims of Madoff their money back. Then they could do whatever they wanted with his sorry arse. I also would like some stimulus. I had to hire attornies to go after my SSI, and my stroke happened in September 2007. I have not received one damn dime and I am really mad. I just want to get out of Nevada and into California, to preserve what little dignity I have left. My husband will get $250 some day, and it too will go to paying the bills or the electric. The whole thing is screwed up. I think we should indict Bush and Cheney first. I have little respect or concern about Obama's attempt at being a President...in fact... I think he is making me prejudiced for the first time in my life...and I am 55!

    March 12, 2009 at 4:24 pm |
  133. Mason Israel

    Not only should we not pass a second stimulus package. We never should have passed the first. This package was pushed through at rapid pace with out consideration of other possible plans. The country was on a down hill path before Obama got into office. No we are falling off a cliff. The stimulus bill is not stimulating the economy. It may be helping in some areas...but not in the main area....STIMULATE the economy. Instead of taxing Americans to death...maybe if we were able to keep a bit more of our money that would stimulate the economy. A plan I like is a two month tax holiday. This would put more money in the pockets of every day Americans...this would stimulate the economy right away. Much more so than a $500 or $1000 dollar rebate check. We are now going to be further and further in debt to countries like China and some in the middle east.

    P.S. I blame Pelosi more than Obama for the rapid passing of this bill.

    Mason

    Atlanta, Ga.

    March 12, 2009 at 4:24 pm |
  134. Sheldon

    Yes, please create another simulus. Send it to me. I can waste it as good as the big boys.

    March 12, 2009 at 4:24 pm |
  135. AspenFreePress

    No way! I've learned to cut back on my expenses and it's been financially rewarding. For instance, each morning I take money that I used to buy coffee with and buy a few shares of Citigroup instead. Sterling Greenwood/Aspen, Co.

    March 12, 2009 at 4:24 pm |
  136. Christopher Pratt

    The people of the United States are the ones to suffer. Inflation is holding, jobs are being lost, people are losing their homes, banks are cutting all the credit nets that people have developed as a bridge through rough times, and our banks are witholding credit opportunities. Hum.. A cash society. That will never work in this day.
    My professional opinion is that any effective stimulus must be into the people, and the massive funds needs to "tender it's natural course" if it's going to be effective. When money is given to sustain an over the top valued market, we will continue the same course. If the funds are tendered through the people, then tax is generated (producing income streams for municipal government), mortgage loans are paid (producing income streams for banks), automobiles are purchased and payments are made (generating auto manufacturing and income streams for many suppliers, vendors, and dealers, etc), and the discretionary funds of the people (generates unrealized income streams to small businesses).
    We could have utilized previous stimulus packages to fund the people, however those funds are history. I would ask our government to step out of their influences and listen to the people for a change. Give every employed american in December 2008 a one time stimulus payout of $100,000.00 taxable income each, excluding the wealthy. Tax rate at a flat 25% or $25,000.00, leaving most everyone with around $75,000.00 to naturally tender and stimulate the US economy.

    March 12, 2009 at 4:24 pm |
  137. Kim VA

    Hi Jack;
    It's already happening and the best part is that the jobs in the solar tech have opened in VA. There is a starting salary of 16 an hour and job placement, that will help those drop outs, get a skill to pay that child support or maintain their families a lot better.
    The problem is that there is only one solar school now and a back up at the door. Children from 14 thru 21 are getting the opportunity to learn hands on and that's the best teaching a student can recieve.
    Training our new Green/blue American workers for the future. Their future.

    Now that's what I call a stimulus.

    March 12, 2009 at 4:25 pm |
  138. Bob in Milwaukie, Oregon

    It seems the only thing that gets an economy going after a severe downturn like we have now or during the Depression is massive government spending. Back then it was on military weapons for World War II. I keep hearing this is the worst deficit spending since World War II, but one of the best economies we have had was in the 1950s right after the war. What happened to all the debt we must have had back then?

    March 12, 2009 at 4:25 pm |
  139. Sarah, Lenexa, KS

    Quit whining, America. We wouldn't be in such a financial crisis if we hadn't invaded Iraq 6 years ago. But you weren't willing to speak up for the lives of our Soldiers, the well-being of their Families or the lives of Iraqi civilians. Yes, we have people without jobs and home prices are falling (mine included), but our houses aren't being bombed and our kids aren't looking out for landmines on their way to school. No stimulus package, we have to accept the consequences for our actions.

    March 12, 2009 at 4:25 pm |
  140. Ken-Long Island

    You have to travel ten miles to turn a cruise ship around. By that reckoning you might have to travel a thousand miles to turn a macro economy around. Certainly a number of factors conspired to cause us to go into a recession; yet it is extremely difficult to measure which of these factors has had the greatest effect. Was it easy credit? Was it rising energy prices? Was it government debt? Or was it that a surging economy simply needed a rest? One thing is for sure. If you overstimulate you will get inflation on the other side of the recovery. If you under stimulate you might extend the recession or even cause a depression. Difficult as it may seem, it is possible to measure the momentum of a macro economy. We have some great economists around who can crunch the numbers; people like Larry Sommers, Paul Krugman, Joseph Steiglitz and Martin Feldman. If I were the President and the Congress I'd put 'em in a room and ask "em, instead of listening to people like Jim Kramer and Rick Santelli. Why don't we try intelligence for a change?

    March 12, 2009 at 4:27 pm |
  141. Julie

    It's too soon to tell if another stimulus is needed. The money hasn't even been distributed yet. If the current stimulus creates jobs, another may not be necessary. I know one thing – if given a choice over a job with a steady paycheck, and another tax cut, I think the majority would opt for the job. Give this time – the mess wasn't created overnight, nor will it be fixed overnight. I think everyone should stop listening to the economists and look at what their seeing on their own streets – that's where the intelligence really lies. Those blowhards on tv all have alternate agendas.

    March 12, 2009 at 4:27 pm |
  142. Bryon

    When is it no longer stimulus money, but frivolous spending my child's grandchildren will suffer paying back?

    March 12, 2009 at 4:27 pm |
  143. Natasha

    Jack,

    I say that the fat cats in Congress need to be stripped of all their benefits and work for the same amount of $$ that those of us out in the real world are making. I would through the vipers from the big banks into this pot as well; Citigroup, AIG, etc.......

    The average salary for these folks should be no more then 32K, from which health care benefits, SS, Medicaid and so forth would be deducted.

    it is outragous how they people are so out of touch with the real world.

    Let's not forget that the Obama Administration did not get us to where we are today, but that good ole Bush Administration did (and I do not mean Daddy Bush) along with certain Democrates like Pelosi and her crew!

    March 12, 2009 at 4:27 pm |
  144. Bill in MO

    What I think many people miss here is that the United States has never been in a situation like this before. This is not necessarily a question of the US economy, but the impact of the global economy. I suspect the sad truth is that no one, absolutely no one, really knows how to put this huge train back on the tracks, especially not in a quick fashion.

    It's unfortunate that our government is in the position of having to do something quickly (because of public opinion, as much as anything) and yet no one can say, "Here's the solution."

    March 12, 2009 at 4:28 pm |
  145. Kathleen from Maryland

    Jack, Isn't it interesting that the very same Repulicans who are most critical of the stimulus package are holding their hands out for the money? MEMO TO GOP: If you think the stimulus package is so bad, DON'T TAKE THE MONEY!!! Then, let's watch you explain to your constituents why they won't get anything. Hypocrites, all. As for being impatient for the economic recovery, remember that it took nearly a decade of irresponsibility and unfettered greed - endorsed by a White House occupied by a demented rodeo clown - to make this mess. It's going to take a lot longer than a few months to clean it up. This isn't a video game where you can hit "reset." America, grow an attention span and some backbone, because we're all in it together for the long haul.

    March 12, 2009 at 4:28 pm |
  146. Dan Caugherty, Raleigh, NC

    It's way too early to judge if another stimulus is needed, or if this one will in fact work. The US economy is an enormous beast with a GDP of about $14T - it literally can't change course fast enough!

    Instead, it's time for an overhaul of the regulations imposed on our financial system. Transparency and accountability in the public interest are sorely needed throughout the financial industry.

    Here's a thought: Maybe we can hire and train all of those laid off workers from Bear Stearns and Lehman Brothers to be SEC watchdogs.

    March 12, 2009 at 4:28 pm |
  147. Chris from Charlotte

    If economists are so good at what they do how come this country doesn't have a bunch of Billionaire economists? I know 5 and none of them are even close to rich. I would also be interested in what they have to say about the 500+ points the market gained in the last three day.

    March 12, 2009 at 4:28 pm |
  148. Frank - Mebane, NC

    The thing that bothers me is that we are helping out companies who have failed on their own. It's not the tax-payers responsibiltiy to keep them up. They have created their own internal combustions. How about the hard working people of America getting the stimulus money? We're the ones that are depended on to spend it with companies who are having a rough time keeping their doors open. If we don't have the money to spend then nothing gets bought which in turn prevents them from maintaining revenues. Right now with the major unemployment rates that money would come in really handy to those who are stuck with no job & struggling to find work. It would help keep them from losing everything they worked hard for. I don't see the current financial issues being helped by stimulating the companies that have brought themselves to this point. It should be given to the hard working tax payers to stimulate the economy. All we're doing is giving money to the rich CEOS to keep them afloat. It's our hard earned money that they should be looking for to keep them in business.

    March 12, 2009 at 4:28 pm |
  149. Chad from Los Angeles, CA

    No! Does anyone think about inflation and long-term effects of just printing extra money whenever we need to...??

    March 12, 2009 at 4:29 pm |
  150. Kevin, Chester Springs PA

    Not yet. The first one hasn't even kicked in yet. What we need now is a solid plan for the banking industry and the mortgage crisis. And what we really need is a lot of patience. By the time another stimulus package would have any impact would be when we're working our way out of this into a recovery. And by then it would just be a waste of more taxpayer dollars all porked up with a lot garbage. Now's the the time to be smart.

    March 12, 2009 at 4:29 pm |
  151. Ken From San Diego

    The initial stimulus plan was signed into Law on Feb 19 – less than 1 month ago. Even when it was passed, president Obama and members of congress on both sides of the isle said that it would be months – possibly years before we saw some impact from the stimulus – not days or weeks. How is this debate even relevant except completely for political reasons? Some democrats see a possible opening to move forward their agenda more quickly and the possibility of sneaking in more spending then they normally would be able to. The republicans see an opportunity to quickly qualify the initial stimulus as a failure and to quickly label the democrats and Obama as failures. It is fabricated political "debates" like these that make the the general public dislike politicians. It is not possible for anyone to know if the 3 week old stimulus is working or is going to work. Just ridiculous.

    March 12, 2009 at 4:29 pm |
  152. Ken-Long Island

    You have to travel ten miles to turn a cruise ship around. By that reckoning you might have to travel a thousand miles to turn a macro- economy around. Certainly a number of factors conspired to cause us to go into a recession; yet it is extremely difficult to measure which of these factors has had the greatest effect. Was it easy credit? Was it rising energy prices? Was it government debt? Or was it that a surging economy simply needed a rest? One thing is for sure, if you overstimulate you will get inflation on the other side of the recovery. If you under stimulate you might extend the recession or even cause a depression. Difficult as it may seem, it is possible to measure the momentum of a macro economy. We have some great economists around who can crunch the numbers; people like Larry Sommers, Paul Krugman, Joseph Steiglitz and Martin Feldstein. If I were the President and the Congress I’d put ‘em in a room and ask “em, instead of listening to Jim Kramer and Rick Santelli. Why don’t we try intelligence for a change? (Corrected version.)

    March 12, 2009 at 4:29 pm |
  153. Lance Coardill

    Obama has thus far shown that, in all things related to the economy, clearly they are "above his pay grade". I can count on my left hand, the one with a finger like Rahm Emanuel's, how many time the government has actually executed any one of a number of plans, as anticipated, without graft, incompetence and stupidity. Obama's stimulus package is no exception.

    March 12, 2009 at 4:30 pm |
  154. Greg From Boise

    What if they gave out a Debit card this time for stimulus instead of a check? You would have to buy items in order to use the card, not put it in your savings account.

    March 12, 2009 at 4:31 pm |
  155. Roy - Chicago IL

    The stimulus shuld be approached like cod liver oil.....you know it is good for you, but you sure don't want any more of it unless you absolutely positively need it! In short......at least 6 months should go by to judge how the current plan is working before another 'dose'.

    March 12, 2009 at 4:32 pm |
  156. Dexter in Houston TX

    Jack
    Now I’m not the brightest bulb in the box, but it took me approximately 45 days to go through the home purchasing process. President Obama has only been in office for 50 days. I think this question is somewhat premature. Give it time...this stimulus will work!

    Dexter
    Houston TX

    March 12, 2009 at 4:32 pm |
  157. Diana NJ

    Isnt' the first Stimulus package just getting out about now..?? How about if we get out that money first... all this talk is from the GOP tryint to keep things NEGATIVE>..

    March 12, 2009 at 4:32 pm |
  158. R Young

    This is all so wonderful. At the rate we're going, the possibility of the US going bankrupt is becoming a serious threat. One note of interest is that with all the talk of soaring unemployment, no one mentions maybe we should curtail immigration for a while, both legal and illegal. But the government wants amnesty for millions who are already here. Some day down the road we may see several bankrupt countries, allowing the governments to design a new, international currency.

    March 12, 2009 at 4:33 pm |
  159. Alex Silva

    Does the U.S. need a second economic stimulus package?

    Jeff, today 150 people are trying to fix what 150 million people messed up irresponsibly. That is a huge long-term job!!
    The 2nd stimulus package has to come from these irresponsible 150 million by cleaning their mess, please do not repeat it anymore in their lifetime accepting their losses, helped by the responsible 150 million who must support every point of Obama's package: use of alternative energy, not missing paying their debts, continue supporting education, living healthier lifestyles, etc..

    March 12, 2009 at 4:34 pm |
  160. Judy Sawyer

    NO More bailouts! If a company cannot be run effectively in the first place, why reward them with more "play money"? It is time to get serious and let the chips fall. Our country has survived before and will again. Stop trying to solve the world's problems if we cant even take care of ourselves. The proper reward for greed is poverty; poverty is not the reward for honest hard work.

    March 12, 2009 at 4:34 pm |
  161. Steve , Clifton,VA

    Jack

    while the US does not need a second stimulus package it is becoming blatantly clear that a global stimulus package may become necessary to avoid having healthy economically countries from being dragged back into an unhealthy global economy/recession......after it has pulled it's economy/recession

    March 12, 2009 at 4:35 pm |
  162. Jim Smith

    In a word, Jack, yes.

    There is a $240 billion state budget shortfall. All we have to do is cut that $240 billion check, and no teacher, fireman, or cop will be laid off.

    Unemployment benefits and food stamps probably will cost another $100 billion next year. So we're up to $340 billion now.

    Increasing child care subsidies probably will cost another $20 billion. So we're up to $360 billion.

    Finally, we need a long-term project such as high-speed rail. To get that in 11 of our nation's corridors will cost $140 billion.

    There you have it - a second $500 billion stimulus package.

    March 12, 2009 at 4:35 pm |
  163. tony

    No to a second stimulus (and I supported the first). The stimulus package was always supposed to be a necessary condition (not a sufficent condition) for economic recovery. Another necessary condition is addressing the insolvency of our largest banks (bank holding companies). Until that is done, a second stimulus package (and the first) will be wasted- or at least a fraction as effective as they should be.

    March 12, 2009 at 4:35 pm |
  164. Derek

    I am not a supporter of obama at all, I believe he has a hidden agenda and we ar about to experience it. people want to bash bush but if they know anything about politics the president actually has little or no say so in the decission it is congress. This bail out has screwed the working class. They need to let the auto companies and banks go bankrupt. we need to begin from scratch, yes it will take a while but it will be the best thing for us at this point. we totally need to restructure the U.S.

    March 12, 2009 at 4:35 pm |
  165. Stephen

    Norwalk
    Connecticut

    I do not think another stimulus package is needed. However I feel that if more money, time, and effort were going into creating new green energy technology then the nation could pull itself out of this mess. If we are to get serious about renewable energy sources such as solar, wind, hydro, nuclear ect... then this could potentially create new jobs. Dams and the energy facilities that go with them would require many people to build them as well as maintain them. Solar power would also require people to build panels and the energy stations that go with them as well as their upkeep. Its the same thing with wind as the other souces of energy I have mentioned. We could easily build nuclear energy sites. We have many choices for alternative fuels as well as many different oppertunities to create jobs. The benefits of using these technologies to get our nation off fossil fuels are as follows: more money is spent for more important American interests rather then buying fossil fuels from other nations, it creates many needed jobs, it creates an energy independent America, it relaxes possible future tensions with other nations over fossil fuel reserves, it helps stop degredation of nature, ect... I forgot to mention in my above list of renewable energy, geothermal. This form of renewable energy can also be used. Many areas of Arizona, Texas, Nevada, and New Mexico as well as other states have large areas that recieve constant sun light in which if we installed solar panels could actually power the entire country alone without any other form of energy source. If we were to tap into each of these renewable energy sources, we could potentially create millions of more jobs as well as save billions that would go into buying tons of fossil fuel. There is no economy with no environment... Now renewable energy seems to be offering us a way to save both. We'd be 'killing two birds with one stone.'

    March 12, 2009 at 4:35 pm |
  166. Rusty Lawson

    The only stimulus package I would agree to is to get rid of all the right wing Republicans and vote in more Democrats most out the hard-core neocons in my view are all fascist anyway. A stimulus plan to the right wing Republicans is to throw you a 50 foot rope when you are stuck on a ledge 100 feet below and say climb for it,

    March 12, 2009 at 4:35 pm |
  167. The Lonely Libertarian of Liverpool NY

    NO Way! In fact we did not need the first 11.6 Trillion dollars spent since 2007.
    What we need is what we got a taste of today, a crook (Madoff) going to prison for the crimes that have caused this mess. Now let's get Mr. Stanford behind bars, and start arresting the hundreds if not thousands of others who committed fraud and insider trading that grifted the American citizens of their life savings and retirement monies.
    We can recover on our own, no Government help is needed, but if you want confidence in the markets, we the people would like to see more of these crooks going to jail.
    DO NOT PASS GO, DO NOT COLLECT BAILOUT MONEY!

    March 12, 2009 at 4:36 pm |
  168. Kyle from Kentucky

    I think that the first stimulus package, was just not big enough. I have to believe that when a Nobel Prize winning economist says that the package needed more money, and wasn't board enough, then I am thinking we better listen. We need to get more money, more jobs, and less listening to the right wing nuts on the Republican side of the congress. Also we need to make sure that this is written by the White House, not by the "earmark" hungry congress, and it needs to be settled on jobs, jobs, jobs, and oh yeah more jobs, not some failed attempts at tax cuts.

    March 12, 2009 at 4:36 pm |
  169. Paul

    I think another stimulus would be a disaster. I do not feel like paying more in Taxes because Obama wants to get spend happy. I would love to hear obama say something about immigration reform. Health care is also a mess because most americans are sue happy and obese

    March 12, 2009 at 4:37 pm |
  170. Jasom

    No we dont, the lazy americans that screwed up their own lives are all begging for money like communists and socialists. Even the people that always claimed to be proud americans that practiced democracy, but now that times are tough, they go begging for more hand outs. Thats the problem with this country, when something goes bad, we dont man up anymore and let them fail, everyeone wants a bailout now. Screw all these hand outs that come from stealing over 30% of my hard earned money.

    March 12, 2009 at 4:38 pm |
  171. Ryan

    Ron Paul has always had the right answer. Why Does nobody pay him the respect he deserves? Do we want to spend the rest of our lives and not to mention our grandchildrens lives paying off this debt? Absolutely not! Audit the Federal Reserve gentleman and you will find our enemy. But hey common sense is not part of the Congressmen's role is it?

    March 12, 2009 at 4:38 pm |
  172. Mike, Chicago, Il

    Jack, I was against the 1ST stimulus & definately against a 2ND. My family & I are just plain old hard working middle class. Which means we get nothing from stimulus except paying the bill. My wife lost her job when her company downsized & is currently collecting unemploy ment. I survived the over 200 job cuts at my work, but all the over-time is gone & we work exactly 37 hrs per week. Any less & we would lose our medical benefits. Even though we did the right things regarding home purchase & qualify for mortgage help under the President's plan, our bank, Harris, says, oh no theres no help for you. We did nothing wrong but there is no help for us, why?? Why must we lose everything we have worked so hard for?? Why do we get punished and the fat cats rewarded?? Jack, if you, Lou, Wolf, or Anderson could explain it all to me, I would be gratefull. I feel that now that President Obama has won his prize, the White House, he has forgotten all of us, the middle class & is business as usuall. So much for the big change

    March 12, 2009 at 4:39 pm |
  173. Roberson

    Why is this so difficult? Didn't anyone on capital hill take economics 101? The ONLY way to get the economy going is for people to spend money. That's it! Not credit, Not Borrowing (gee, let's throw more money into the actions that got us here in the first place! Really smart Pres. O)

    IF the Government is going to insist on spending more of MY MONEY in another stimulus package, here's what they should do. Take the $500 Billion and divide by the number of people who paid taxes last year. Send each person a check for that amount. Problem solved! The foreclosures would end overnight. THe car industry would have a boom like they have never seen. The Credit card companies might even get paid off.

    Wow, what a concept. Leave the money in people's pockets instead of thinking that the government can spend the people's money better than the people!

    March 12, 2009 at 4:39 pm |
  174. Ralph Nelson

    ABSOLUTELY ! I said the 1st one was too small and asked for $1 trillion, than economists were calling for $1,.4 trillion, now the Europeans say they do not intend to help (chances of a Depression just went up 30%). Note it takes 5-to-6 months for government spending to affect the overall economy, so we are early yet, but should be prepared with a better targeted 2nd package of about $600 billion (not designed by David Bonner, but by the Obama administration) for six-to-nine months from now and they have got to give the Europeans hell (especially Germany) and get them on board.. Ralph, Yakima, Wa.

    March 12, 2009 at 4:39 pm |
  175. Jay

    We need another wasteful "stimulus" like we all need a collective kick you know where. Let the market run its course. Some companies will fail and some people will lose their jobs...wait, that's already happening and we are throwing money away while it all goes down.

    March 12, 2009 at 4:39 pm |
  176. David

    Hey Jack,

    Let's see. We spend more money that we don't have to get ourselves deeper in debt and then we borrow even more money to pull us out of the hole we are digging for ourselves and getting deeper still. Question: What family improves their personal economy by getting deeper into debt? Why do we think our government can do this and it makes sense when they do it?

    March 12, 2009 at 4:40 pm |
  177. Bob

    It is certainly possible. Remember we are one of the largest economies on the planet. That means a lot of $$$ to make any impact. More may be needed. Now could you have simply "left well enough alone" , let the "chips fall where they may" and wait for "nature to take its course" to recovery? Certainly. However, that would also mean the suffering of millions of good people who would lose cars, houses, jobs, retirements, etc etc. Will future generations be "stuck"?...certainly.... to one degree or another....but at least in trying to lessen the impact, perhaps the "pain" can be spread out ( over people and time) and not reach "excrutiating" levels.

    March 12, 2009 at 4:40 pm |
  178. Dennis

    Another "stimulus" package would be pure insanity. Increased government meddling in the economy has never worked. We only need to look at the experiences of the Soviet Union, North Korea and Cuba for validation of that. China only started to grow when they adopted capitalism. India also started to grow dramatically when they abandoned socialism. Talk of another stimulus proves to me that liberal Democrats are not interested in ending the recession. They're only interested in increasing their political power.

    March 12, 2009 at 4:40 pm |
  179. Jeff

    What we need are better solutions than throwing money to the wind. We should be considering lowering the taxes on business from 45%, the highest tax on businesses worldwide. Lower the taxes they have to pay, thereby allowing them to hire more people, pay better wages, provide better healthcare. If they're willing to use the additional tax relief for those purposes then do it.

    Our government has lived large for quite some time and I believe that's time to scale back. As a people Americans have been living in debt for so long that the debt has finally caught up with them. Our government is giving them a bad example. Create a budget and stick to it. I don't care if you're Republican or Democrat, we all need to live within our means. Especially our government. Give the power and the money back to the people. We've let career politicians run things for far too long. They need term limits to slowdown the lobbyists and to prevent the salary increases that they give themselves.

    March 12, 2009 at 4:40 pm |
  180. Valerie - North Carolina

    This is extremely complicated and I do not fully understand it but I trust and support President Obama. If he says it takes another stimulus package to set the country straight, he has my vote. Of course the Republicans will scream bloody murder. They seem to have forgotten that it was THEIR President Bush that put us in the mess we now find ourslves. What a bunch of losers!

    March 12, 2009 at 4:41 pm |
  181. Jeannette, Toronto

    Those economists along with their Bernard Madoff's, should be sending the Stimulus Package, First, Second and Third to the White House and start giving back all those $100m/b bonuses, homes, private jets, yachts, and other frivolous purchases from the backs of the working American People! Aren't they the ones the GOP, along with the previous government who created those "LOOP HOLE LAWS" on stealing the money? While taking jobs all off shore to deepen their pockets? Now they come begging for more?

    March 12, 2009 at 4:42 pm |
  182. Kim - Blair, NE

    Oh my goodness! It is way too soon to tell what is going to work. Our country has never faced a crisis such as this. I believe it is going to help many people. I wish everyone would just give it a chance.

    March 12, 2009 at 4:43 pm |
  183. judy

    Jack

    My question is we have oil here in the states. North Dakota seems to have a little "Saudi Arabia", and now all we hear is over 1/2 the drilling rigs have stacked out and layed off many workers. Why do we keep importing oil when we have it here and the jobs would be plenty. If we keep giving our jobs oversees -we might as well all relocate to a new country and we would be able to work for a American company and good old USA would be non existence. Wake up Washington.

    March 12, 2009 at 4:43 pm |
  184. Jeffrey Auch

    Dear Jack,

    Don't you think we need to give it 6 to 12 months? We did not tank overnight.

    People just need to slow down go take a walk around the block and get some fresh air.

    Chill

    PS how come nobody talks about the US spending 600 Billion plus on bombs and tanks?

    March 12, 2009 at 4:44 pm |
  185. V.K. Raman, Sparks

    It is premature to talk about another package as we have not even implemented the first pckage in some of the stages

    March 12, 2009 at 4:44 pm |
  186. Jim in Alabama

    Who knows Jack! We haven't heard enough facts about exactly what was done with the money granted in the first stimulus package to really know. I do know that we need to be careful about spending any more than we have to because this is going to be on the taxpayers backs for a long time. I suppose we have to trust the idiots we elected, right?

    March 12, 2009 at 4:45 pm |
  187. RSB

    No. Congress needs debt counseling. Don't they know, you don't use one credit card to pay off another? (Roland/St. George, UT)

    March 12, 2009 at 4:45 pm |
  188. Ed Woodbridge,Va.

    Where is all this stimulus money coming from? Another indicator that the Democrats are ready once again to reach into the taxpayers pocket,and spend,spend,spend, with the head Democrat (Obama) leading the pack! Obama pushing for another stimulus package, Pelosi looking for her own private government jet at taxpayers expense, Democrats and Republicans with all their "PORK" earmarks,Obama authorizing federal funding of abortions overseas, and recently approving federal funding for stem cell research! Once again where is all this cash coming from? Answer: The American Taxpayer! Give us a break Democrats and remove your grubby hands from the taxpayers pocket and let them keep what they earned with the sweat of their brow!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

    March 12, 2009 at 4:45 pm |
  189. Jeff

    Jack,

    No. We need another bailout about as much as a broke Gambler needs another bank roll. Maybe this time we can roll Lucky 7, but my guess is that we will probably "crap" out again....

    Thanks for all that "Change" that was promised. The tax dollars that come from my hard earned pay check truly appreciate it....

    March 12, 2009 at 4:45 pm |
  190. ricky667

    Jack, they should have just sent the populous the checks along time ago. No more bail outs, and if Washington does another bail out, we the american people should arm ourselves to the teeth and march forth like the french in 1789, vive la revolution.

    March 12, 2009 at 4:46 pm |
  191. Chris

    No we do NOT need another "Stimulus." The first was a joke and probably covered repayment of those who helped get Obama elected.

    If there is a second, then the USD should generally be considered Monopoly money. I'd like a house on boardwalk please, can I borrow $60 Billion from taxpayers?

    March 12, 2009 at 4:46 pm |
  192. Mark (Cape Coral)

    Wait!! So we need ANOTHER stimulus package even though the first one hasn't had the slightest effect. If we do need it let it be one for the people and the best way for that to happen is to end the federal income tax. Allow me to keep the $5,000 I paid last year to pay bills and stimulate the economy. Let those of use that work keep more of OUR money not through tax reductions but elimination.

    March 12, 2009 at 4:46 pm |
  193. Jay Dombrowski

    Yes we need a stimulus – but this time lets prop up social security, Medicare, unemployment and other services that honest hard working people will need to rely on when the greedy corporations we have been funding ultimately fail. Lets free up IRAs without taxing them if people use the money to pay off debt so they can survive the crisis we are in.

    No one wants to see someone out of a job. But some banks and automakers are not run efficiently, and appointing a government official to oversee them is improper use of government money, and besides look how well our government runs its own affairs.

    We also need to help people who bought less expensive homes, because they knew they could afford them, and who are paying their bills, but who bought in housing complexes that are now failing due to the economic crisis.

    In short lets concentrate on protecting people.

    March 12, 2009 at 4:46 pm |
  194. Always right (Tampa)

    No Jack. I would like to let Byan know that this massive spending is not the GOP fault, and please stop blaming Bush. This is the Demo. depression. Obama is selling our country and this is the way it is!

    March 12, 2009 at 4:48 pm |
  195. elmo

    a tax chief with the comander and thief....stop throwing our money at the problem when you "forget" to pay your own taxes..sick of it..we owe more money now than we ever did and he is only 50 days in office..Oh oh oh but its Bush's fault...give me a break

    March 12, 2009 at 4:49 pm |
  196. Cheryl from Texas

    Heck NO!
    The new administration and speaker Pelosi are already p***ing away money. Earmarks all over the place. Pelosi demanding use of military planes to take her all over. Everything reeks in Washington....I'm disappointed that no matter who is in office, campaign promises stop the second you've taken the oath and it's business as usual.

    March 12, 2009 at 4:49 pm |
  197. Tibor

    Jack:
    Would that journalists across the spectrum would address the core content of this question rather than the minutiae of the political badminton game. There is a massive hole in spending and consumption at many levels in the economy. Until it is replaced we will continue to suffer. Stimulus in this period is rather more like backfill, regardless of its make-up. Forward looking initiatives like sustainable energy, technological advances, and more equitable income infrastructure – these are the stimuli, but we won't see them until we can fill the big hole, or at least keep it from turning into a black one.

    March 12, 2009 at 4:50 pm |
  198. John

    We need another stimulus package, and we need to stop the bailouts.

    Economists were saying before the first one was even passed that it wasn't large enough and we'd need another one. The first stimulus was, thanks to political pressure and not economic pressure, forced lower then it should have been.

    For the banks and the automotive industry, we need to stop slapping money bandaids on the problem, and break down and reform the sick industries.

    Don't confuse the stimulus with the bailout. The stimulus is like OB/GYN, the bailout is like chemo.

    March 12, 2009 at 4:50 pm |
  199. Dennis North Carolina

    let us use the first one and see what the rest of the world is going to do.

    March 12, 2009 at 4:51 pm |
  200. Pamela - Dillon, South Carolina

    Jack..please tell me why we are continuing to bail out banks and insurance companies when millions of us will loose our unemployment benefits in mid April. This administration has proven that they do not care about the people who are in need indeed. I have been seeking employment for mor than a year. I look for work during the day and decided to complete a degree in education at night. We need HELP not a bailout.

    March 12, 2009 at 4:51 pm |
  201. Emerson

    I'm just wondering how any of this is going to help me. I've lost pretty much all my retirement and savings in the stock market crash, and while I do have a job at the moment, I'm getting close enough to retirement where there's no way in heck I'm going to have enough to retire. I guess I get to work until I drop dead at my desk... assuming companies will even hire people in their 70s.

    What about us folks who've been barely scraping by, and aren't eligible for any bailout because we didn't do stupid things like buy houses we couldn't afford and laugh at our credit card bills? Is there going to be anything for us? I'm guessing not!

    March 12, 2009 at 4:51 pm |
  202. Ben,

    Washington elected criminals bamboozled American people and liquidated their brain to the floor level. Their next step is to liquidate the people assets with their life included. I am wandering what stimulate them to this behavior. Perhaps more money?

    March 12, 2009 at 4:51 pm |
  203. Ev

    It's time to stop the bleeding. I am a middle class citizen. I have paid out the ying yang in taxes and was blessed enough to do my taxes for April and realize I still have to pay more. I pay my mortgage on time and live well within my means. I've budgeted like no ones business and view going out to eat as a luxury. I put 1/3 of my income in savings and have no credit card debt. My original price on my house was $100,000 and my husband and I bought it when we had a combined income of 37K. We have never made a late payment and carry a high credit score. I and many like me can prove that you don't really need a stimulus package just pure common sense!

    March 12, 2009 at 4:51 pm |
  204. Otto

    People, stop speculating on the stimulus as the ink is hardly dry. No one knows if another is needed and all the pundits, commentaries and logger heads need to shut up and wait a few weeks at least.

    Too many chatter box like rats digging a deep hole and none of them know what they are talking about. The turn around can't be done in a week, month or even a year.

    This is not an American crisis; this is a world wide crisis and it takes nations all over Earth it get their act together in order for us to dig ourselves out of this mess.

    Yeah, 787 billion, another 700 billion and the list goes on, come on now, the mess we are in will take several trillions before we see real upward tick. Don't fool yourselves, you all know this is real and not just for Americans.

    People in poor countries will die of hunger while we point fingers at Republicans and Dems alike. We bicker like children and no one has a solution. Those who are unemployed (out of a job because of this crisis) can tell you how hard it is for them and their families.

    The blame is on all of us but particularly on the greedy bankers and Wall Street speculators who got rotten rick while dragging down others.

    How many multi-million home have been built since August 2008? None! Zip! the criminals don't have the easy cash any more. Take it easy folks, move the little money you have left in your 401K to secure accounts and ride with the tide. In a year or two you'll be asking yourselves "What was I worried about" Have faith if you are the so-called Christians you all claim to be. Geez!!!

    March 12, 2009 at 4:52 pm |
  205. Matt

    Your question is incorrectly stated. You are asking about 'another' stimulus package. That implies there already was one, and clearly the disaster that already passed was not a stimulus package. That was a complete waste of time, energy and money. Now if they want to actually pass a real stimulus package, it might help.

    March 12, 2009 at 4:52 pm |
  206. Byron from Baltimore

    If my child asks for $50 dollars for a purchase, and then comes back and asks for $50 more for the same purchase what do you think I would say. There has to be an answer to fixing this crisis, maybe the two majors are to busy fighting about what not to do, than to work together to correct it. Now would be a great time for a new party to start coming up with the ideas to help our country.

    March 12, 2009 at 4:54 pm |
  207. Bob R

    Here's a novel idea; if the government is so bent on spending money, give it to the people, not the businesses. Let the people pay off their debt. Let the people buy new cars. That's what will start the economy again. Throwing money at failed businesses does nothing but increase the people's debt load.

    March 12, 2009 at 4:54 pm |
  208. JS007

    We definitely need more stimulus now, BUT, the adminstration has to be quick to implement stricter financial regulations and to withdraw the excess money as soon as the economy starts to recover, so that we don't end up with massive inflation.

    March 12, 2009 at 4:54 pm |
  209. Rolando DePuy

    NO Jack.... the stimulous that we need is Patience.
    This country thinks that things change at the snap of your fingers.
    The worst thing this country needs now is impatience.
    And on it's mayority this is caused by the media trying to create news

    March 12, 2009 at 4:54 pm |
  210. john

    your kidding right?? spend a few trillion more??
    for what?? if you want to stimulate the economy, cut taxes. period. Even the great Democrat JFK understood that cutting taxes simulates the economy and by that little mircle known as capitalism, tax revenues actually increase

    March 12, 2009 at 4:55 pm |
  211. Steve

    My belief is that this economy is going to need a lot more money to fix the problem. What I don't get is how people think doing zip is going to help. As if allowing some of the biggest companies in the world to collapse is an answer. Yes, I agree that it sucks that these companies failed the America people and the world with their greed and corruption but there is simply no way to allow them to dissolve or fail without huge consequences to us all. I hear complaints about the housing bill and yes it isn't fair but it is that or watch your house value diminish. I believe the government has to take over the banking industry FULLY. Obviously they cannot handle managing themselves. Maybe it is time for the U.S to take steps to become more like Europe. We continue to think we do things so well but we have not changed how we do things but instead toot our own horn. Yes, we WERE the best at one time and now we are not because we simply are not capable of making the changes necessary without something drastic happening to force us to. I also believe that in order to avoid future failures of business that the government can't allow them to grow so big because when they go down, they go down hard and they take masses with them. They are not capable of managing themselves the way smaller business can.

    March 12, 2009 at 4:55 pm |
  212. Michael Schmidt

    The first rule of *bad* management is...if it's not working, do more of it. Some Democrats in Congress appear to be this kind of manager. The 'stimulus' package has only stimulated the growth of government bureaucracy. The consequence has been and will be to dampen economic growth and weaken the position of the US by increasing the deficit to incredibly high levels.

    You cannot borrow/spend your way to prosperity. We must produce our way out of this situation. We will increase productivity by decreasing the tax burdon on business – especially small business. Unfortunately, current administration policy is completely counter to what we need and seems more focused on social reengineering than what is good for the economy.

    March 12, 2009 at 4:55 pm |
  213. David L.

    NO, we dont need to dig our selves deeper in debet as a country. We need to FIX the reasons that we got in this mess. And stop Importing oil from over seas. We need to invest in energy. When money stayes in the U.S.A. then the jobs will come back.

    March 12, 2009 at 4:56 pm |
  214. Liz, Windsor, Ontario, Canada

    It's too early to tell if the U.S. will need another stimulus package – let's at least give the first one a little time to see if it indeed helps get the economy on the road to recovery!

    March 12, 2009 at 4:56 pm |
  215. Irv Lilley

    Jack , What the country really needs is a total change of mindset.
    No more greedy company execs, board members and the people who continue to do and say things that add to the "Us against Them" attitude of self centeredness. Alot less of peoople who
    would deny progress in the name of holding fast to political ideals.

    March 12, 2009 at 4:56 pm |
  216. James

    Just a thought:
    Maybe we should wait to see if this one does any good. If so and we still have work to do, maybe draft up a new one.

    If it doesn't work we really need to stop throwing money at the problem.

    March 12, 2009 at 4:57 pm |
  217. Ken in NC

    I'm waiting for my bailout now. I don't care if it is first, second or third. I NEED IT.

    March 12, 2009 at 4:57 pm |
  218. Gary from NC

    To be quite honest what we needed was a "good" package to begin with. My jaw dropped when I found that part of the package was for the planting of grass on the National Mall. Give me a break. The way this thing played out it looked like all of the leaders on Capital Hill and in the White House were brand new to the job. These guys aren't economists and should stop playing dress up as if they were.

    March 12, 2009 at 4:57 pm |
  219. Craig

    Oversight. That's what we need. The combination of greed and fraud are what got us into this economic crisis. We need the proper regulation and enforement to make sure it doesn't happen again.

    I don't think anyone can tell at this point what it will take to get the economy going again for sure. But not to stimulate it, would be to let it collapse in my opinion.

    I think the Obama administration is doing the write thing.

    Philly

    March 12, 2009 at 5:00 pm |
  220. Allen in Hartwell GA

    Jack, if we can get the money from Wall Street and the businesses that are wasting what they already have, or from the drug companies that apparently have billions to buy other companies, then I'm all for it.

    If the taxpayers have to write another IOU then I'd have to be convinced that this was the best thing to do for the country.

    March 12, 2009 at 5:00 pm |
  221. Black Conservative

    Obama managed to spend more of our $$ in 2 months than Bush did in 8 years and people are still blaming Bush. That big stimulus package was so porked up with useless bologna, no way in you know where will it ever help any of us, and my great grand kids will be paying for it. Now where's the change we were promised, oh wait, I see it..... spend more than Bush and make things worse!

    March 12, 2009 at 5:01 pm |
  222. Georgia from PA

    Guess Obama could be another man behind the curtain (Wizard of Oz). Sounds like a lot of people need that good ole 'optimism", then they could tell another Brownie the're doing a great job, there was no problem with Katrina recovery, our economy is going strong, etc., etc., etc. Anyone who thinks Obama could wiggle his nose and recover the economy in 50 some odd days should go see a shrink about their schizophrenia.

    March 12, 2009 at 5:01 pm |
  223. Troy

    Spending more money that we do not have, will not help our economy. Bailing out banks and auto companies, with money we do not have, will not help our economy. The more the government puts it's hands in the free market, the worse it is going to get.

    March 12, 2009 at 5:02 pm |
  224. Rick Greene

    I think we will need another stimulus, only this time President Obama needs to get it right. Instead of pandering to the Republicans in the name of " bipartisanship ", there needs to be more spending and less tax cuts. From what I've read, most economists think that the government, as the " spender of last resort " ( the rest of us don't have much left to spend ), needs to put more money into the economy.

    March 12, 2009 at 5:03 pm |
  225. debi~california

    Dear Jack,
    I sure hope not. BUT if we do, I hope the government will help the citizens of this country not the corporations!

    debi~california

    March 12, 2009 at 5:03 pm |
  226. Frustrated- Ventura Ca

    You want more spending to happen? Fine, then i say give the american ppl about $10,000 each. I'm sure we will all go out and spend the money, the majority of us anyways. Some ppl may use it for a down pmt on a home, or an automobile. That will jump start the economy im sure and can help get most ppl on their feet in the process!

    March 12, 2009 at 5:04 pm |
  227. Gus from California

    In broad economic terms, it comes down to purchasing power. And people without jobs don't have any. They don't buy, and businesses have to lay off even more and around we go. The buyer of last resort is the government. They have to put the money back into the goods and services stream. Then people stay employeed, pay taxes, and you get a lot of that money back.

    The alternative, do nothing, will soon cause us to sink to the level of a third world state, with not enough government revenues to pay retirees, or a standing military. Worst of all worlds. No security, no food (save maybe soup kitchens) no schools. But the rich will have survived, and to some (unnamed) that seems to be the only thing that is important.

    So yes, keep shoveling in money, until the fever breaks.

    March 12, 2009 at 5:04 pm |
  228. Craig

    Instead of helping out all big business with bailout funds it would've been wiser to give all working americans $25,000.00 cash to pay off debt and get ahead. This would've made me spend rather than save as a current employed worker. I could run our government better than what I have seen in my 40 years. Common sense lacks in government and they intend to throw us a bone with a very very little amount of meat on it. Whatever Obama! Keep that extra $12. a week for your childrens weekly allowance!

    March 12, 2009 at 5:04 pm |
  229. david crandall

    Whatever changes this is going to bring-about, is going to take at least a month or two. I mean, patience, folks.

    Added, that most of the investors aren't waiting on a stimulus to be better, but rather a signal of how our banking industry really is doing, from the overworked, understaffed Geithner.

    March 12, 2009 at 5:04 pm |
  230. Wes

    First, the economic crisis is worse than when the first stimulus package was adopted. Second. The first stimulus was too small to begin with. The level of spending needs to be on the order of WWII spending, as a percentage of GDP, That spending got us out of the Great Depression. If people had learned anything in history class, they should have learned that.

    March 12, 2009 at 5:04 pm |
  231. Todd

    Ahhhh......Chicago politcs on a National Scale.....so much for the community organizer turn President!

    Did we expect anything better from this guy? This is what I was telling people about before they casted their vote.............

    March 12, 2009 at 5:04 pm |
  232. Casey | Sebastopol, CA

    Frankly, the only stimulus I think we need now is a cattle prod applied to Republicans to refocus their thoughts on where their heads REALLY are.

    March 12, 2009 at 5:04 pm |
  233. Alan-Buxton, Maine

    Too soon to know. The first one hasn't got started yet. Why are we so impatient?

    March 12, 2009 at 5:06 pm |
  234. Joan

    Let's get the first one going then decide. IN the meantime, every American needs to get with the program and each person should be doing his part to help himself and the econony at the same time. Stop sitting back and complainng and start spending, or saving, or being responsible. That's all we need.

    Joan
    Texas

    March 12, 2009 at 5:06 pm |
  235. Cemil Tarhan

    In fact no stimulus package is needed, just give incentives to those banks and lending institutions that work right and others penalties for failure. Shareholders are the only judges for the economy. Incentives for good banks and lenders? Full interest rate subsidies for good loans so banks make more money by lending out good credit. Penalties for bad banks and lenders? Let the shareholders of those banks and lenders take the tab, put a badloans cap/taxes on bonuses and dividends prorata bad loans share in total portfolio. That ought to scare any management and shareholders to dare olay with fire by lending out irresponsibly. In fact if FED were to subsidize 2/3 of total lending by banks/lenders that would shoot up lending immediately by over 100% in just a month putting credit in people's pockets so they go out and spend jumpstarting the economy. If you don't believe me ask anyone around and see if they want to borrow at 1/3 of regular cost and the answer will be yes to that for whatever purpose, car loan or new mortgage.

    March 12, 2009 at 5:06 pm |
  236. Martha in NC

    I heard yesterday that one of the banks that received the bailout money invested it in China! Sorry, I don't remember the specifics of the news report. YES, there should be another bail-out-stimulus package for the everyday, working American men and women! How in the hell do they think we can buy cars, homes, etc. with NO JOBS?
    I laugh everytime I hear this. The bail-out companies should all be closed and forced to pay back–with interest–every single dime they received. Spread some of the bailout money to us–the American public–and see how fast things start moving again. People aren't buying, investing, etc. because they HAVE NO MONEY! And yes, I voted for Obama and support him–but my $8.00 a week stimulus will only go so far!!!!! Thanks for being the voice of reason in this mad, mad, mad world!

    March 12, 2009 at 5:06 pm |
  237. Dan

    Even my 87 year old mother known you cant spend your way to prosperity.

    March 12, 2009 at 5:07 pm |
  238. Sonny from Kansas City Missouri

    Jack,
    The government talks about being fiscally responsible and they want to know from the bailout recepients how the bailout money has been spent. I am a United States Taxpayer and I want to know how my tax dollars are utilized (abused is better term). I am damn tired of this government giving our tax money to their hudlum friends that they have received money from in the past to further their greedy conquests. This country's citizens are being hoodwinked. Our country's fore fathers would be embarresed and sickened to see how our government conducts it's business afares today. Pathetic.

    March 12, 2009 at 5:07 pm |
  239. Caral from SoCal

    No! The knee-jerk stimulus package has been doled out to companies that obviously do not know how to run a business, banks that use the money for foreign loans, and mortgage companies that then thumb their noses at the people they talked into signing onto their products. We did NOT need the first package, and we sure don't need another. This is simply an excuse to load up all the liberal agenda items that have been suppressed during the past eight years. It is like a balloon freed of its knot, all the gas comes rushing out – this spending flurry is simply an orgy of democratic glee.

    This is taxation without representation. Our grandchildren will pay for this boondoggle, and they have no voice.

    March 12, 2009 at 5:07 pm |
  240. RENEE CARRINGTON

    I think we the people need a stimulus check in a refund to pay off bills and feed our family, I am a single mom of one, and making ends meet is hard and know two or more kids is even harder. Yes we do need jobs but we also need to live.

    March 12, 2009 at 5:09 pm |
  241. Gary

    Jack,
    Your kidding right. What happened with the first one? At some point the government needs to quite printing money and show us what's been done with the 1.6 trillon that has been spent so far.The average "Joe" hasn't been helped out yet. I know because I went to my mortage company and they told me there was NO Plan for me. Someone in Washington needs to hold the banks and others that got bailout accountable.

    March 12, 2009 at 5:16 pm |
  242. Roman Deutsch, Butler, PA

    Hey Jack...I'm being foreclosed on here in April. Did I see another 650,000 plus unemployment again. Here's the problem Jack at the rate of foreclosures and unemployment in this country, we won't have to worry about another stimulus cause there won't be any tax dollars coming in to support another stimulus. We're fighting how many wars? Costing how much dollars? Wall Street thinks things are getting better; What are they thinking? They must be talking to Kramer. Or just trying to give people false hope either way they're fools I tell ya FOOLS.

    March 12, 2009 at 5:16 pm |
  243. woody

    sure y not? by da way, what did AIG do with their money? P.S. the guy that threw the show at G.W. shuda got a medal rather than 3 years.

    March 12, 2009 at 5:16 pm |
  244. Mitchell from MN

    I got an Idea if education is so imporatant why do we just bail out the college students who are having trouble paying off their student loans because they cant even get a job at Wal Mart. That would be better then bailing out failed bankers and auto compaines. At least that way we really would be investing in our future.

    March 12, 2009 at 5:16 pm |
  245. Bill V

    I think we need to learn to have a little patience before we just throw more money at the economy. And that is probably one of the problems in the first place. I sure know that I can't afford to keep paying that much in three month periods. We shouldn't just panic; I am not saying do not pay attention, but to act like adults and actually react to the situation calmly and seriously.

    March 12, 2009 at 5:16 pm |
  246. Steve

    Jack,
    I still haven't seen my first (or as Wolf points out 2nd) stimulus. The banks have had their bailouts, now its time for the average American. Besides, if we could pay our bills, the banks (or any other company for that matter) wouldn't need the government's help. Send some to the little guys Mr. Obama.

    -Steve
    Lee, MA

    March 12, 2009 at 5:16 pm |
  247. Sonny from Kansas City Missouri

    The government needs to get the hell out of the way. It is not the solution, they are only contributing to the problem. Government has gotten way too big and powerful. Let the damn free market correct itself. Has this country become too dependend on government? It appears that this is the case. The government was meant to be for the people..........somehow that has been lost along the way.

    March 12, 2009 at 5:16 pm |
  248. Jessica Bluefield WV

    Jack, I work in customer service for a satellite tv provider and we are trained to think of other resolutions to issues other than just throwing money at the customer. I don't know how many customers I've talked to over the years who have told me they didn't want a bunch of credit,they just wanted their issue resolved and I was able to do so with very little or no money being spent. Maybe we should start taking that sort of approach with the economy.

    March 12, 2009 at 5:16 pm |
  249. Bruce/ North Salt Lake

    Jack I think the economy will be fine now that Mr. Madoff is now a member of the prison population. God if he can generate a fortune while on the outside for himself , can you imagine what he might be able to accomplish behind bars, I'm thinking personalized license plates

    March 12, 2009 at 5:16 pm |
  250. Matt, New York, NY

    Jack, what we needed in the first place was real bona fide stimulus package, not a massive spending bill that finances the liberal agenda. I'm 18 years old, and I'll be paying for this bill for the rest of my life. I say we scrap the thing and start over. Give the money to the people, not the politicians.

    March 12, 2009 at 5:17 pm |
  251. Kay Frazer

    This bailout spending needs to stop. We continue to reward bad behavior instead of forcing responsibility. If we want to change the economy, the tax payers money needs to go back to the tax payers. The money would be better spent rewarding companies that are putting forth efforts in recruiting employees and minimizing layoffs, whether it is threw tax cuts or incentives. By focusing on the workforce we will have a better chance at stimulating our current economic condition. We are at a critical point where we are facing not having enough tax payers to cover the payouts already given. The Bailout plan was the most ridiculous move made by our government.

    March 12, 2009 at 5:17 pm |
  252. Tony

    It's too early to know if we need another stimulus package. Obama has been in office less than 3 months and the stimulus package 'with rules' from the Obama administration has barely taken effect. Republicans would love to say Obama is failing and want more money thrown at them and their banks. Let's wait awhile and see if the new shovel ready jobs and other stimulus activity has an impact. The stock market over the last 3 days and the people's increased spending per today's reports says it may be working. Let's wait before we go into more debt. We fiinally have a leader, let's follow him.

    March 12, 2009 at 5:17 pm |
  253. C.Miller

    Yes I think we need another stimulus but the money needs to be in the hands of the people of this country.I am willing to give the Obama administartion the benefit of doubt but I am loosing faith quickly.I don't
    see any change in the state of the union.Same old poltical wrangling.
    The only peolple that aren't suffering economically are the politicians of this country.Sounds like more of the same to me.

    March 12, 2009 at 5:17 pm |
  254. Sandy

    Jack
    The President wanted a larger bill, but the just "SAY NO" Rethuglicans,
    said we were spending to much money, well where in the Hell were they for the past 8 yrs.
    Where were all these economists when this crisis was sitting on the burner on simmer, than now its at a full boil and they know everything?
    I think this is bigger than any of us know!
    Instead of sending all these banks money send thet ax paying people a check for $200,000. that will stimulate the economy, people can pay their mortgages, credit cards, their loans, in the end the banks will get their money!
    Than take all those corporations who ship jobs overseas and take away their tax credits away or give them incentives to create new jobs here.

    March 12, 2009 at 5:17 pm |
  255. Bryce Hand

    This is a silly question to ask the general public!

    People "on the street" have political opinions, but neither comprehension of how the economy works nor the expertise to give advice.

    Regardless of how this poll turns out, it will be an example of mistaking opinion for knowledge.

    March 12, 2009 at 5:18 pm |
  256. Bernie of Lowell, MA

    The Congress just chose to pass a huge stimulus package. The unfortunate part of the whole thing is that the funds are almost all allocated to long-term projects, many of which will take months – even years – to even get started. Sure, there are some 'shovel-ready' projects, but most of the rest requires that we get started just on the planning, not on the implementation.

    Also,. there are no specifics – and the majority of states receiving the funds will need months of legislative haggling just to figure out how to spend the money.

    I cannot understand why there are so many complaints when nothing has happened yet.

    It's like having a baby. The process requires a gestation period, so we'll all have to pace the floor like expectant fathers.

    The real question is : What animal has a gestation period of several years?

    Bernie
    Loewll, MA

    March 12, 2009 at 5:18 pm |
  257. Katie

    Jack,

    I am a graduate from UCD with a degree in Economics, and I side with Paul Krugman that the first stimulus package was not big enough. This is classic Keynesian economics.

    The Republicans wanted to cut the stimulus package in half so when it wasn't stimulative enough, they could sit back and say, "see, I told you fiscal policy doesn't work" – when they set it up to fail!

    The problem is neo-classical economics does not see a Great Depression as an inherently bad thing! That might work for the upper class, but not us middle class folks. Economic collapse leads to political unrest, so the Republicans should sit up and take notice.

    Just my two cents,

    Katie

    Davis, CA

    March 12, 2009 at 5:18 pm |
  258. ralph

    Don't you people get it? We are in one hell of a mess and it's going to take a lot of spending to turn this around. No one likes the idea of the Government bailing out huge corporations but you do what you need to.
    It's easy to be a critic when you sit in one of the cheep seats. You all have a choice pass along a larger then desirable deficit to future generations or raise them in poverty. You decide.

    March 12, 2009 at 5:18 pm |
  259. Carolyn Smith

    Yes – definitely! They keep talking about the "people" not spending – everything in the Country has received a stimulus except for the common people! How can we spend money – we don't have any – $8.88 cents a week in our pay checks – now seriously – what can you buy with that? Send us some serious money like you do those banks that are sitting on it – they won't even lend any of it out like they're supposed to. What good does it do to give it to them. Send it to us – we'll get out and spend a bunch of it for them and not wastefully on things that families really need like tires for their cars, refrigerators, ranges, shoes, etc. etc. etc.

    March 12, 2009 at 5:18 pm |
  260. Tracy Jimenez of Rocklin, CA

    The real question is "IS an immediate improvement realistic???" PLEASE – this isn't about waving a magic wand and and "poof" it's all better. These problems are next to insurmountable and were brewing for a long time. The only ones feeding this fire is those that want failure for Obama and his administration, and, they want it at any cost. Time will really tell. So much for country first and being patriotic.

    March 12, 2009 at 5:18 pm |
  261. Curtis Wampler

    The US economy needs another stimulus like the Octomom needs another baby. There has been no evidence that the first stimulus has been implemented responsibly or that it specifically will have any positive affect on the economy. It's interesting that the Dow has had three positive days before the stimulus money can even be handed out. Maybe we didn't need the first one after all.

    Curtis Wampler
    Udall, KS

    March 12, 2009 at 5:19 pm |
  262. yoyolite

    We need whatever it woud take to get us out of this mess. If another stimulus is going to plug this economic hemorrhage, apply the stimulus tourniquet as often as needed.

    March 12, 2009 at 5:19 pm |
  263. aliciam

    How is this money going to stimulate the economy when it won't even touch the hands of consumers?

    March 12, 2009 at 5:19 pm |
  264. Nancy, Grand Ledge,MI

    Economists do a remarkable job of forecasting events after they happen! Mainstreet knew there was a problem long before the experts did. Mainstreet will know very soon if the first stimulus is working or not. If it doesn't, we may need one that goes directly to mainstreet and trickles up!

    March 12, 2009 at 5:19 pm |
  265. Dan

    Yes, Continue to throw good money after bad. Bail out the irresponsible Idiots that put us in this situation. It would make no sense to give the money to the people that would spend it to save thier houses, pay thier bills, buy cars. Oh, wait. wouldn't THAT, stimulate the economy?

    March 12, 2009 at 5:19 pm |
  266. Eleanora Feucht, Mt. Laurel, N.J.

    Although I assume the stimulus package is supposed to benefit me, I can't help wondering if Pres.. Obama is trying to bankrupt my country.
    My mother always taught me, if you only have $50 in your pocket, don't spend $100 on Christmas presents
    I. voted for Obama, but I am starting to wonder where he learned his economics. Sure, he may have inherited these conditions, but does he have to add to them??

    March 12, 2009 at 5:19 pm |
  267. James F. in MN

    Yes if he think we need it to be able to eat, educate live greener and provide security and stability to the lifes of American lets do it. We spent billions in Iraq for nothing lets eat atleast.

    March 12, 2009 at 5:20 pm |
  268. george

    for this administration jack probobly a second and a third.
    there was talk a few days ago on cnn with one of the other economist's and it was his idea that of every bad mortgage in the country be torn up and eaten by the banking institution that issued that bad loan.
    such a move if possible might make another stim. pkg. less likely or take less money.
    george
    chester,ct.

    March 12, 2009 at 5:20 pm |
  269. Keegan

    This is hurting me for sure. Im taking critizism of the president quite personally. Not only because I am african american like him, but because it seems when ever it comes to governing, the Africans can't do it. If this is a ploy by god to kill me he is certainly hitting all the right marks. If the experts say he sucks then I guess he sucks.

    March 12, 2009 at 5:20 pm |
  270. Don

    No Jack, no more public green. This is an add water & stir society. On the way down and on the way up. The Chinese think in generations, so maybe 2100 would be ok for them to recover. I think the question of an August versus October turnaround is laughable. What's the difference? Most of our economists should actually open the library door and let some light in. There is a real world out there. Good show Jack.
    Don, Ontario, Canada.

    March 12, 2009 at 5:21 pm |
  271. Walter Melnyk

    Good afternoon Mr. Cafferty:

    I believe that before Congress rushes into creating another stimulus package, they should allow the current program to begin and see how it is working. It will take time to assess the effect of the current stimulus package, heck, it hasn't had a chance to work yet.
    Also, I'm getting tired of the commentary that the Govenment should do more and then hear from experts that the government should not get involved. Either get on board and help solve the problem or shut up.
    I understand that many banks want to return the money to the Government because of retrictions they do no like. That means to me that they believe that there is money out there to be invested, insteas of sitting on the sidelines, let's have the private money come into play and relieve the taxpayers liability for their missteps.
    I know that I'm addressing several issues here, but to answer the original question, let's let the current stimulus package work and see if the desired result occur.

    March 12, 2009 at 5:21 pm |
  272. Andy

    Yes, we do need more stimulus. One that cuts the capital gains tax, reduces taxes on everyone making more than $250,000 and studies the mating behavior of Louisiana termites.

    March 12, 2009 at 5:21 pm |
  273. Danny Nieves

    I don't know if we are going to need another stimulus to get the economy going, but if we do, we should do it. During the Depression the New Deal got the economy going, but it started to contract again because FDR tried to balance the budget and cut back on some of the programs, this caused the economy to contract. W.W. II got us out of the Depression and brought about full employment, but we paid for the war with deficit spending. In other words if anything, the New Deal was just too small, but it calmed the people down and gave them hope. We should not balk at spending more money to get the economy going, what we are paying for is the restoration of consumer confidence.

    March 12, 2009 at 5:21 pm |
  274. David SB

    No, we need to wait and see what happens with the first one. For all you people who continue to say give american workers xxx amount of money and see the economy go, are you going to pay that money back???? You obviously didn't read every part of the bank bailout. Best case scenario, the govt makes money on the purchase of the "toxic" debt. Worst case scenario, they do make some of it back. The money they "gave" the banks was actually used to buy stock in the banks and they are getting dividends back for the stock purchase.

    March 12, 2009 at 5:21 pm |
  275. mikeb

    it will do no good to continue to bail out banks and financial companies. people don't want to borrow money that they can not pay back because they don't know if they will have a job tomorrow. the only way to stimulate the economy in its present state is to put money into the hands of those who will spend it. those who need the money would be spending it on things they can't currently afford like there mortgage, putting an end to the mortgage mess. those who don't need the money would be spending it on luxury's and investments, rebuilding our stock market and boosting the economy. america's are losing there jobs, and we shouldn't be outsourcing those jobs to foreign countries, and tighten up on the imported merchandise and commodities that can be made and found right here in our own country. this is not rocket science. let's use some common sense here and get this country back to it's former glory.

    March 12, 2009 at 5:21 pm |
  276. Fred Suhy

    Jack
    The question should be can we ever stop the politicians in Washington from filling their pockets with cash that they steal from us,if we could do that we wouldn't have had to have the first stimiulus package,never mind a SECOND one

    March 12, 2009 at 5:22 pm |
  277. Smart Stimulus

    I know a way to stimulate the economy and it will only cost 15 billion dollars at most. And, it will be paid back within five to ten years. Loan each needy family (who wants to borrow it), a maximum of $100,000.00 to pay off non-mortgage debt. This will clear up most of the bad credit debt that is out there and put more money back in the banks. Many families will not need $100,000.00. Also, allow the people to pay it back at one per cent interest though payroll deduction, direct payment and/or tax rebate checks.

    We should also create a debt reduction law which will charge all families at least $10.00 tax for every $10,000.00 in earning. This 1.5 billon dollars a year will be used to pay off the U.S. debt only. In 20 years, the U. S. should be debt free.

    March 12, 2009 at 5:22 pm |
  278. Stacy in Port Saint Lucie,Florida

    Just asking if the country needs another stimulus package makes me question if there is anyone left that understands the free market economy that this country was built upon. We didn't need the first one and we certainly don't need a second one.
    What we need to do is is get to the nitty grittty of the problems we are facing and make the tough decisions based upon the good of the country and not the corporate bottom line. We need to invest in our technological advances, create jobs within our borders and increase the US GDP.

    March 12, 2009 at 5:22 pm |
  279. Paul

    Who cares what the WSJ economist say? That's just another right wing media outlet rather than a respected journal.

    March 12, 2009 at 5:22 pm |
  280. B.J.Schmidt- Illinios

    Yes, another stimulus package is needed. This time it needs to get to the people that need it, small businesses and the population.If they give it to big business they just stick it in their pockets, if they do spend it would you rather get $50.00 from 50 people or would you rather get $5.00 from 3,000 people. As a side note,shows what would have happened if social security would have gone to stocks and wall street. oh,yeah that was another Bush plan wasn't it.

    March 12, 2009 at 5:22 pm |
  281. sand bell

    we have not had time to see how we will do with this one. we need to give this time 6 month to a year

    March 12, 2009 at 5:23 pm |
  282. Mark

    No more stimulus packages. Throw all the crooks in jail where they belong. Let the chips fall where they may. One other thing. Obama didn't create the mess we find ourselves in. Greed did. So don't expect Obama to wave a magic wand to fix our problems. He just got into office and everybody is already trying to grade him. Give the man a chance.

    March 12, 2009 at 5:23 pm |
  283. werner e tammer

    no idont believe we need annother stimulus pakage.but i do not believe anybody in congress has a clue about it

    March 12, 2009 at 5:23 pm |
  284. Dennis

    A second stimulus is need. We've bailed out all the corporations, now how about giving every citizen over the age of 18 a few thousand dollars...say around 5,000. You can't tell me people won't spend that money.

    March 12, 2009 at 5:23 pm |
  285. Renald N. (Bahamas)

    Jack, do you mean the very same economists who were agreeing with Bush last year saying, "The fundamentals of the economy is strong"!

    March 12, 2009 at 5:23 pm |
  286. Greg

    Jack,

    Not at this time. We have not yet had any time to see the effects of the first stimulus package. Money from this package is just beginning to flow to the states.

    My guess is that a lot of the economists to which you refer are republicans, and like Rush Limbaugh, don't want the President to succeed. They may also not want to be proven wrong on predictions about how screwed up our economy would be under this president.

    We need to have some patience, everyone says the problems won't be fixed overnight, but when they aren't they howl...like Rush.

    March 12, 2009 at 5:23 pm |
  287. Vernis Robertson

    We need to hold off on anymore Stimulus . That would only give the Republicans a message , because we all know that they don't have a message now accept NO.

    March 12, 2009 at 5:23 pm |
  288. scott

    wheres my bailout?

    March 12, 2009 at 5:24 pm |
  289. Sonny from Kansas City Missouri

    The government touts that Americans need to spend, spend, spend to help the economy recover........unfortunately the majority of goods are no longer manufactured in the good old United States of America and thus does not result in more jobs in this country. We have become a country of consumers instead of producers. Producers=JOBS. We have literally sold our county's future based purely on making a quick buck.

    March 12, 2009 at 5:24 pm |
  290. Judy

    If and when there is another stimulus package it needs to go to the people we can find alot better ways to spend it such as house payment, groceries, medication, utilities and maybe a education to find another job. since that is everything that has been taken away.

    March 12, 2009 at 5:24 pm |
  291. Curtis

    We need another stimulus check like we need China telling us what to do. I fear that if we borrow any more money that we will basically be signing Taiwan over to China. Look how our tone has changed in matters concearning Tibet since the last time we borrowed.
    Perhaps we should let the market work the way it is suppossed to. If some companies go out of business or have to reorganize, well so be it. Maybe then we can reorganize as a nation and make this country,and our economy work the way it is suppossed to and thats for Americans. Well what do I know?

    March 12, 2009 at 5:24 pm |
  292. dd

    The economy always comes and goes in cycles. This is the lesson taught in our general Macroeconomics classes in college. The economy artificially inflated over the past several years because of one reason or another, and now that we are falling, we are falling hard. When you delay the inevitable, you multiply the impact. If I delayed paying my taxes, eventually Uncle Sam will nail me for the taxes I owed plus interest and penalties. Do not try to fix the economy with stimulus packages. If we would have let the recession start a year or two ago, we probably would have been out of it now, experiencing another 3 or 4 years of growth. Let's ride this thing out and learn some hard lessons from the past several years. Let the economy take its natural course of peaks and valleys and in the end we will be alright. – St. Louis

    March 12, 2009 at 5:24 pm |
  293. Marjorie Farmer

    Another stimulus package to who? Citibank? No
    Or will it be for the Kennedy Family in Mass? No

    March 12, 2009 at 5:24 pm |
  294. David John

    Dear Mr Cafferty,

    The question is not "IF", but "When"! Had this Mortgage mess been dealt with promptly and astutely, we would not be in this chaos. We should have bit the proverbial bullet then. The shilly-shallying has only exacerbated the whole of economic picture! And again the Americans suffering will be prolonged from the lack of competent action from its Government. Additionally, Is it possible that the stimulus package was purposely “back loaded” so most of the spending occurs in 2010, and hence the positive effect not appear till the next election?? I feel that in so doing the politicians in charge of the government are playing games with us for their political gains!

    March 12, 2009 at 5:24 pm |
  295. Lee

    Sure , why not. Let's just print 3 or 4 billion more and be like the Sudanese..

    NO MORE!

    March 12, 2009 at 5:25 pm |
  296. Bill

    Why ask such a question Jack?? Most of us viewers have a time filing are taxes from year to year! Who knows....ask MADOFF .....he knows more about stimulation than most of us!!!!1

    March 12, 2009 at 5:26 pm |
  297. Sean S.

    Jack, you know as well as I that the Wall Street Journal is as reliably non-biased as Fox news, and under the same ownership has the same political leanings. Pres. Obama has had a little over 50 days to fix what it took the Bush administration 8 years to break. Considering that as late as Sept. 2008, 66% of economists, based on a survey from the American Economic Association, supported Obama (including Nobel-winning economist Paul Krugman) and his currently being implemented economic agenda. Given a little time, the stimulus plan will bear fruit. Like Rush Limbaugh, conservatives are doing their best to assure America's financial failure and have no problem predicting as much.

    March 12, 2009 at 5:26 pm |
  298. Steve

    Jack,

    No, we DEFINITELY do NOT need another Stimulus package or bailout. It was not needed in the first place. Throwing money at the problem is never the solution. What we NEED to do is to cut programs. Back the dollar by a commodity(gold or silver) and end the criminal federal reserve. My generation already has enough of a debt burden put on our shoulders. We're going to have a depression whether or not we have more bailouts or not. These bailouts will only delay the inevitable, and by inflating the dollar, make it that much worse. I see very dark clouds looming overhead and it doesnt look good. I just hope people wake up in time to see what's really going on.

    March 12, 2009 at 5:26 pm |
  299. Brown

    I don't know why everyone is asking for opinions and input as if it matters, we just saw the results of the New Administration.
    Promises made on the Campaign Trail, were for effect only!!
    **PROMISE-a declaration, written or verbal, made by one person to another, which binds the person who makes it to do, or to forbear to do, a specified act;a declaration which gives to the person to whom it is made a right to expect or to claim the performance or forbearance of a specified act.
    We all know the end of this story, been there, done that ! 4 more like the last 8.
    The Greed & Corruption on Wallstreet also spreads to Washington. If anyone should know what is happening on Main Street the representatives in the House should know their state. Based on the 11% COL increase they just passes, The American People must be doing Great ! Prospering, with growth in Manufacturing, tons of jobs.

    March 12, 2009 at 5:26 pm |
  300. Donna

    Jack some people are yelling let the banks fail to rid people of their debt but would other consumer groups buy these debts and still make people liable? Like the one person with the school debt of 11K it would be a drop in the bucket to pay off that debt so the gov't would help that consumer plus the banks. It is a win win if the gov't worked directly with companies to reconcile a person's debt this way no checks are sent out. I find it funny they are making a point to brag about the same retail decline last month. One reason is tax rebates watch shortly the decline will start again and contunie.

    March 12, 2009 at 5:27 pm |