WASHINGTON (CNN) – House Majority Leader Steny Hoyer said Tuesday he would consider supporting a second economic stimulus bill, but said people need to give the package that passed in February more time to work.
The second-ranking Democrat in the House of Representatives said Republican complaints that the nearly $800 billion measure has failed to boost the U.S. economy are premature.
"Certainly, I don't think we can make a determination as to whether or not that's been successful - certainly as successful as we want it to be, certainly not as quickly as we want it to be," Hoyer, of Maryland, told reporters. But he added, "I think we need to be open to whether or not we need additional action."
Hoyer said it was too soon to say the February stimulus bill - which passed without a single GOP vote in the House and only three in the Senate - is not working. He said job losses have "substantially decreased" in recent months, and that the recovery package has prevented many people from being laid off from their jobs.
"In fact, we believe it is working," he said.
No legislation has been put forward so far.
In pushing for the American Recovery and Reinvestment Act, the Obama administration said it would be paid out quickly to save or create 750,000 jobs by early August. Without it, administration officials argued, unemployment could top 9 percent by 2010.
Federal jobless numbers already have overshot expectations, rising to 9.5 percent in June. Many leading Republicans say the measure has been a waste of money, while some economists - like Nobel Prize winner and New York Times columnist Paul Krugman - argue the original measure was too small.
Vice President Joe Biden acknowledged Sunday that the administration "misread how bad the economy was," but he told ABC's "This Week" that the pace of the program would be increasing.
This is what you get when you follow a progressively corrupt media to the voting booth..., Congradulations Ameirca.
Shoudlnt we sepnd the at least half of the first package before signing on to a second package... theres a strong chance of inflation if you do too much to fast.
"In fact, we believe it is working," he said as Wall Street retreats on sliding oil prices, drag on commodity shares, second-quarter reporting period focus.
Are these people skimming the pot?
Not good enough! Republicans want it to work TODAY. Yesterday. No - before Obama took office. No - before that. Before there was a problem.
It amazes me how the party of NO said NO to the stimulus, tried to refuse it for their states so their predictions would come true, but still passed out HUNDREDS OF BILLIONS before Obama took office with NO STRINGS ATTACHED.
Then they complain about the "control" of industry the White House is now exerting over businesses receiving taxpayer assistance.
This is how it's done. Venture capitalists don't give businesses money without CONTROL of that company with a seat on the board or the majority of shares or something, to protect their money.
Republicans want it both ways. DECADES destroying our country and economy and complaints when it hasn't been cleaned up in six months.
Maybe had the first stimulus package not been filled with pork, or maybe had most of the spending came this year (instead of late 2010, 2011 and early 2012) we would be seeing more results and thus wouldn't need to even be discussing a 2nd stimulus package.
Congress dropped the ball, they saw an opportunity to get many of their pet projects funded and by labeling the bill a "stimulus package" those who questioned it where deemed wanting to see the economy and government fail.
Congress had it's shot, they failed. They shouldn't be getting a second one, and come 2010 those who voted for the porkulus package, need to answer for it.
Using the same standard used on Bush, it is clear that Obama lied to the American people to get his stimulus (pork) bill passed.
The problem is that most Americans have been so dumbed down that they will never realize (or care) what the Dems are doing to this country.
When a boat is sinking, you don't save it by adding more water!!
These people have no discipline. I hope voters in Maryland will get a big look at this guy.
" He said job losses have "substantially decreased" in recent months, and that the recovery package has prevented many people from being laid off from their jobs."
Again, just from this quote, this shows you how far out of touch Washington is, if he thinks job losses have "substantially decreased" this whole country is screwed. Sure, let's throw more money at something that's not working, thanks.,
NO, we have not even used the first one yet.
Our National Debt is 11.5 Trillion! 80% of the shrinking GDP!! Do these clowns not understand what 20% interest rates are going to do to the average American???
These people are totally nuts. God help us.
YES.. the U.S. Treasury needs the printing jobs.
The 1st stimulus bill was never going to work from the get go. THE MONEY NEVER TRICKLES DOWN. Amazing that those in power do not believe this. The money should have gone directly to Main Street America instead of the banks and large companies.
Good luck throwing more money at the top where the problem lies!!
Good one biden..$757 billion flushed down the toilet..another porkulus bill..what are we going to buy out this time..how about sears..or wal-mart..or playboy..is it true that another stimulus bill is needed because pelosi has been taking more free rides to california??what a joke..the administration under estimated the condition of the economy??..what exactly were you clowns elected for ??..what a bunch of ham and eggers..I hope all you dempukeocrats are happy now..this country is screwed..but don't forget to blame it on bush..after all,the dempukeocrats have had the majority in congress for two and a half years..and how much money has been wasted in that time??
Good, they can pass the second stimulus bill right after they finish reading the first stimulus bill.
What we need is a SECOND ELECTION...and oust Obama and his entire administration. He's lied about everything; especially taxes. He's proven himself to be totally ineffective except with a select group of radical liberals...
I vote for a second election...then, let's empty the gov't of the liberal radicals like Pelosi, Dodd, Hoyer, Rangel...ones that cannot manage fiscal responsibility....oust them all!
We need conservativism in the government, not this tax and spend mentality, we need competence!
One more time here. When you don't have any more money you don't spend borrowed money. How long will it take the Democrats for that to sink in?
Exactly what planet is Hoyer living on? And watch these numbers double or triple once "Cap and Trade" is passed.
Good job America, in your rush to "teach the Republicans a lesson" after Bush, you did this.
Sad – and the worst is yet to come.
Yes – let's keep spending money we don't have!!
Universal Healthcare, Amnesty, 2nd Stimulus Plan, Continuation of Iraq & Afghanistan, etc.
THIS is what happens when Democrats have control. Seriously – if it didn't work for the State of CA – why do democrats think it will work for the entire US????
Amazing. The Democrats are going to stimulate this country right into going bankrupt and the sad part is the Republicans can't do a thing to stop them.
Just another step on our way to being enslaved to the "government"
Are you awake yet America? Obama clearly has no idea what he is doing. You just can't make it up as you go.
Maybe those in the House and Senate as well as the White House will give up their pay which can then be used for the second stimulus...
Not that 90% of Americans didn't realize it the first time,
but maybe this one would actually be a "Stimulus Bill"