Yes,the stimulus/porkulus is back and bigger than before.
The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an outside adviser to the President.
A bit too small? “Whiskey-Tango-Fudge!” Apparently they screwed up the first time and miscalculated the economy and this time they promise to get it right. Look here to see how bad they missed the unemployment numbers the first time.
Tyson, later told reporters that the U.S. can afford to pay for a second package, even as the fiscal deficit soars. She said the budget shortfall is “likely to be worse” than the equivalent of 12 percent of gross domestic product that the administration forecast for 2009 and the 8 percent to 9 percent it projected for next year.
The administration is saying, “the employment is worse, the budget deficit is larger, but we promise to get it right this time.”
Democrat Senator Sheldon Whitehouse said a second stimulus is “probably needed,” and predicted that Congress is likely to act before the end of the year to inject even more federal dollars into the economy.
Sheldon’s home state of Rhode Island spent $153.4m/ 155m was spent on the state’s budget deficit. Only 1.6 million has been spent on transportation projects.