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Stimulus Package
As I expected, [President Obama] hinted about separate pieces of legislation to address mortgage relief and credit cards issues and others outside of the main stimulus package. That address is guaranteed to tell the Republicans that Obama will not settle for being boxed into a corner by their games and that he will show a few expert chess moves of his own tonight. (Feb. 9, 2009.)
Mother [told] us that many folks inside are beginning to tell Obama that he should expand his stimulus package to $4-5 Trillion as he might only get one clear shot at this. The advice is to drop the tax cuts which Republicans asked for and then refused to vote for.
Since those cost 42% of the total and do no good, based on prior attempts, they argue to take them out and then expand the package to what many now say is the minimum level to be effective.
Bernie Sanders is one of those so advising. Thom Hartmann and several others on Rachel Maddows show on her MSNBC program are saying much the same. (Feb. 6, 2009.)
The minimum amount of any corrective stimulus would be more in the neighborhood of $4-5 TRILLION. The so-called cash stimulus is far too little; adds nothing to the infrastructure or new jobs-creation; and brings no mortgage relief, and will likely be dropped as the debate continues. Horse-trading always requires bait, switch and swap options. Then the real options begin to emerge. (Jan. 28, 2009.)
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