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« Has Obama Lost His Sway? | Blog Home Page | NJ Gov Poll: Corzine Still Trails, But Help On The Way? »

A Second Stimulus?

The Atlantic is reporting that amid growing chatter of a potential second economic recovery package, "the White House is holding firm against the idea of a second major stimulus intervention" and will wait at least six months before deciding to move forward with another one.

Whether they sustain this position will test Obama's ironclad commitment to hold steady in the face of regular congressional (and even public) panics. And lest you wonder, White House officials are very much watching the new statewide polling data showing a drop in support among independent voters.

Republicans have been jumping on Vice President Biden's statement over the weekend that the administration had "misread" how bad the economy was, and it's criticizing Democrats for how relatively slow the money from the first stimulus is being spent.

At his weekly off-camera briefing with reporters yesterday, House Majority Leader Steny Hoyer said he would remain open to a second stimulus package, though he'd like to see how the first one turns out first:

To the extent that we are, as I said, just 130 days out on the adoption of a very, very major effort to get the economy moving, certainly I don't think we can make a determination as to whether or not that's been successful, and certainly as successful as we want it to be or certainly not as quickly as we want it to be. We would all like to have plus numbers in terms of the growing employment rather than a loss of jobs. But I think we need to be open to whether or not we need additional action.

Politico highlighted a difference of opinion on this among congressional Democrats.