July 20th, 2008
02:04 PM ET
6 years ago

Paulson confident stimulus package is working

Treasury Secretary Henry Paulson insists the stimulus package is working.
Treasury Secretary Henry Paulson insists the stimulus package is working.

WASHINGTON (CNN) - Treasury Secretary Henry Paulson assured CNN’s Wolf Blitzer on Sunday morning that the stimulus tax rebate issued to millions of Americans this year is working.

“When you look at the consumer data we have for the second quarter; you look at retail sales, the stimulus package is working,” Paulson said. “And it's coming at a time when it's very much needed.”

But Paulson rejected the idea of a second stimulus package of $50 billion, which has been proposed by Democratic House Speaker Nancy Pelosi and other democrats.

“We put it together so it would be big enough to be meaningful to the economy today, and not so big that it was going to jeopardize our fiscal responsibilities and some of our longer-term priorities,” Paulson said.

He stressed that the focus needs to be on the stability of our capital markets, energy prices, and the housing market.


Filed under: Henry Paulson
soundoff (23 Responses)
  1. John Anthony Castro

    Treasury Secretary Henry Paulson, God bless his heart, doesn't know his head from his arse. The oil tycoons in the Whitehouse don't care about America. All they care about is looting this country for everything it's worth in their final days in power.

    Hoarding oil into the Strategic National Reserves to artificially decrease the supply on the market, which cases an obvious increase in prices is how the Bush Administration has engineered one of the most threatening but profitable energy issues in the history of our nation. The oil speculators are just a scapegoat.

    Many presidents have done some bad deeds in their times in the Whitehouse, but President Bush has been, by far, the worse.

    July 20, 2008 04:50 pm at 4:50 pm |
  2. Vig

    I don't believe it – look around you and what do you see – people in financial distress that runs deep and wide.

    July 20, 2008 05:03 pm at 5:03 pm |
  3. Lee from FL

    mine went to pay the bills
    still broke due to gas prices

    July 20, 2008 05:15 pm at 5:15 pm |
  4. STUDY WAR NO MORE

    What a joke.

    I just got my stimulus check and I repaid part of the loan I had to take just to pay my taxes.

    July 20, 2008 05:17 pm at 5:17 pm |
  5. Ula Nejad- Sacramento Ca

    Good grief. I have never heard Pelosi to say something motivating except of ethics that she was admired for that seems to have been given some slack recently.

    July 20, 2008 05:23 pm at 5:23 pm |
  6. bill for barack

    I used my stimulus package to stimulate my gas tank. Whoopie.

    July 20, 2008 05:25 pm at 5:25 pm |
  7. DOH!

    Stimulus working? Ummmmmm ...come out of your bubble and walk in the real world

    July 20, 2008 05:31 pm at 5:31 pm |
  8. Phil, FL

    If I made his salary I could say it's working too.

    Ask some of the people who have lost their jobs to outsourcing or NAFTA, or thru CAFTA in the future. After all, McCain DID campaign in Columbia trying to get that set up.

    July 20, 2008 05:36 pm at 5:36 pm |
  9. Franky

    I'm not gonna lie but I'm not a big fan of a second one, to tell you the truth. Just as long what the people want, I'm fine with it....

    July 20, 2008 05:47 pm at 5:47 pm |
  10. Neal

    Not

    July 20, 2008 05:51 pm at 5:51 pm |
  11. Open Your 3rd Eye

    The stimulus package was a publicity stunt. Most of that money we received went back into the pockets of the oil companies when we pulled up to the pump. It was not spent at Joe Shmo's small business or the mall like it was intended.

    Now think people:

    WHO DID IT REALLY BENEFIT?

    T.H.I.S. I.S. C.A.L.L.E.D. A. S.E.T. U.P.

    AMERICA WAKE UP PLEASE!!

    I WOULD NOT STEER YOU WRONG.

    July 20, 2008 05:57 pm at 5:57 pm |
  12. Sue

    Another billionaire who doesn't understand that we are making choices between gas for our cars, heat for our homes and food for our tables....oh let's not forget medicine.

    The stimulus package was a joke that did not stop the bleeding of us ordinary folks making less than $50K a year

    July 20, 2008 06:02 pm at 6:02 pm |
  13. Florida Livin

    Stimulus what?? That hasn't worked. How about creating jobs. That would be a permanent Stimulus. Wasted Billions as this Administration has over the last 8 years.

    July 20, 2008 06:18 pm at 6:18 pm |
  14. Marilyn, Kansas City

    How many more of these liars will keep coming forward to pull the wool over our eyes? The economy has not improved one bit since the "stimulus" plan came into effect. How about we focus on lowering the debt that 8 years of Republican leadership has ballooned out of control? Why did this administration not listen to economists who advised against the stimulus plan? How can the treasurer, McCain or any one with a brain say that this stimulus plan is a success?

    July 20, 2008 06:21 pm at 6:21 pm |
  15. A NATION OF WHINERS for OBAMA

    SURE IT'S WORKING???????

    PAULSON READING FROM THE BUSH-MCBUSH BOOK OF

    ECONOMICS FOR THE VERY WEALTHY.

    YEA SLEAZO, ITS WORKING FOR YOU & YOUR CRONIES. IT'S

    NOT WORKING FOR 90% OF AMERICANS. IN A FEW MONTHS

    GAS WILL HIT $6.00

    July 20, 2008 06:21 pm at 6:21 pm |
  16. David Goldman for OBAMA

    THIS MORON & ALL THE OTHER MORONS AT

    THE WHITE HOUSE WANT TO TELL US THAT

    WE ARE NOT HAVING IT SO BAD. WE PICK UP ALL

    THEIR TABS. NO ONE IS PICKING OURS.

    THEY SPENT THE LAST 8 YEARS PICKING OUR POCKETS.

    AND NOW THEY WANT US TO VOTE IN MCCLUELESS

    TO CONTINUE THAT EFFORT.

    July 20, 2008 06:24 pm at 6:24 pm |
  17. Terri

    I paid my taxes to the government with my stimulus check so if thats working then I am in the game

    Go Obama

    July 20, 2008 06:25 pm at 6:25 pm |
  18. Dr.Mimi De La Cruz for OBAMA

    IT'S WORKING FOR BUSH AND COTHIEVES.

    IT IS NOT WORKING FOR AMERICANS & AMERICA.

    WE DESERVE ALL OF IT FOR ELECTING HIM.

    A PEOPLE DESERVE THE LEADERS THEY ELECT.

    LETS NOT DO THAT AGAIN. WE HAVE WAY TOO MANY

    "PROUD TO BE BROKE" AMERICANS CONSIDERING

    VOTING FOR MCCLUELESS AS WELL. THREE VOTES ARE

    TOO MANY. LETS NOT COMMIT ECONOMIC SUICIDE FOLKS.

    July 20, 2008 06:31 pm at 6:31 pm |
  19. Patty, Big Bear, CA

    These people live with their collective heads in the sand....the stimulus package was spent on utility bills and rent ,not "big ticket" items. They have no clue because the sad state of the economy is not affecting them.

    July 20, 2008 06:32 pm at 6:32 pm |
  20. Frank

    I can feel it, I CAN FEEL IT! It's a workin' now. Praise the lord, my mental recession is OVER!

    Makes me want to donate to the Republican Party.

    NOT!

    July 20, 2008 06:34 pm at 6:34 pm |
  21. ex republican

    I thought that Republicans didnt like the government getting involved with the economy.......McCane calls for the government to get us out of the gas increases. McCane calls for the government to bail out mortage companies. McCane calls for the government to occupy other countries. hmmmmm........is McCane really a conservative? NO...

    July 20, 2008 06:45 pm at 6:45 pm |
  22. Fillibuddy

    Is Paulson working, though?

    July 20, 2008 06:50 pm at 6:50 pm |
  23. Bradley In Colorado

    I'm still waiting for my stimulus check...

    July 20, 2008 07:03 pm at 7:03 pm |