Research

While Pushing Stimulus II, White House Singing Different Tunes On Stimulus I

December 2009

Posted by: administrator

According to David Rogers at Politico, the White House official is touting Stimulus I while trying to push Stimulus II:

The White House, under pressure to do more on the jobs front, is projecting that the pace of stimulus spending will greatly accelerate over the next six months as last winter’s giant economic recovery package hits its stride …

"We’re just getting started,” a White House official said … "In the coming months, we’ll launch more big bang-for-the-buck programs like broadband and high-speed rail and outlays for projects will double in the next two quarters." 

But in October, Obama’s chairwoman of his Council of Economic Advisors Christina Romer conceded that the stimulus already had its “biggest impact” and that “by mid-2010 … fiscal stimulus will likely be contributing little to further growth.”

It seems that the White House just can’t decide on whether they believe Stimulus I was a success or not. While we know that Stimulus I has been an utter failure, the problem is that Obama is refusing to learn from his mistakes, pushing plans for Stimulus II that looks exactly like Stimulus I.

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