March 10th, 2009
09:38 PM ET
13 years ago

Pelosi open to 2nd stimulus package

WASHINGTON (CNN) - House Speaker Nancy Pelosi told reporters Tuesday that another stimulus package might be needed to help the ailing economy.

Pelosi, whose comments followed a meeting with several economists, said the measures already taken by the Obama administration are helping to restore confidence in the shaky financial markets.

But "we have to keep the door open and see how this goes," the California Democrat added.

House Appropriations Committee Chairman David Obey of Wisconsin told CNN Tuesday night he's already instructed his staff to start drafting a second stimulus proposal. Obey said his staff is preparing the outline of stimulus bill but he cautioned there is no timeline to move on it.

One of the economists in the meeting with Pelosi and other Democrats, Mark Zandi with Moody's, said more taxpayer money would likely be needed to bolster the economy.

Another economist, Allen Sinai, chief global economist at Decision Economics Inc, urged patience. But he questioned President Barack Obama's prediction that the $800 billion stimulus package enacted last month would create or save as many as 3 million to 4 million jobs.

"Initially ... the jobs created may be a little disappointing," Sinai

Sinai said his analysis showed that about 2.5 million jobs would be saved or created over the next two years and he said it is more realistic to project 3 million jobs over a longer period of three years.

The most recent prediction from the Congressional Budget Office, released last week, estimates the recovery package will create or save from 1.2 million jobs to 3.6 million jobs.

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soundoff (40 Responses)
  1. Ula Nejad Sacramento, Ca

    Ha ha ha ha ha.....Oh man! This is hilarious. Keep the stimulus coming.

    March 10, 2009 10:47 pm at 10:47 pm |
  2. tess

    when will the little men with the white coats and nets come and put this poor woman out of her misery (much less the misery she is inflicting on all of us innocent people)!!!!!!!!!!!!!!!!

    March 10, 2009 10:47 pm at 10:47 pm |
  3. GUY

    OH MY WORD! Seriously??? We've 'borrowed' more than one TRILLION dollars in the past year and we may need MORE? Give me a freakin' break. This is getting ridiculous.

    Fear. They want us to fear... so that we will let them do whatever the heck they want to do. "YES, borrow MORE money, SAVE our ecomony!!"

    Please, America. We are believing the hype and it's going to bite us in the end. All this money isn't helping. In fact, all I see around me is people shopping, eating out, taking vacations AND job openings. Where are the signs of a recession??

    We are being lied to... companies are using the economy as an excuse to fire people. A friend just got let go from Sbucks because of the "bad economy". REALLY? Cause the coffee shop 2 miles away is HIRING!

    I'm sick of this crap. Why are we so stupid. How 'bout some CHANGE???

    March 10, 2009 10:52 pm at 10:52 pm |
  4. WeThePeopleOfVA

    Pelosi open to 2nd stimulus package . . . good she can pay for it.

    March 10, 2009 10:58 pm at 10:58 pm |
  5. JC

    And will this "new" stimulus package simply be her way of concealing billions of dollars for special projects and programs she has wanted the last so many years in the guise of "stimulus", just like the last one?

    How is all this money the government borrowing going to be paid back....and where exactly is the money coming from? Enough is enough already...and it was enough before it even began.

    March 10, 2009 11:00 pm at 11:00 pm |
  6. annie - Palin 2012

    WHY? Didn't she get her new jet out of all the other pork packages? How about getting her a pig to ride to & from DC & San Fransinco.

    March 10, 2009 11:01 pm at 11:01 pm |
  7. anonymous

    You would expect none other from a filthy partisan

    March 10, 2009 11:03 pm at 11:03 pm |
  8. Mississippi Mike

    The first one is working so well that a second one would be, well, pointless. How about we try something else? Either cutting government spending or doing nothing are the other options that look promising right now.

    March 10, 2009 11:09 pm at 11:09 pm |
  9. Steve (the real one)

    While she is looking for the next military jet to commandeer, she is so anxious to spend other peoples money! Whee is all this money coming from! And if you wonder YES I complained when Bush spent like crazy!

    March 10, 2009 11:09 pm at 11:09 pm |
  10. Marty, Grand Rapids

    So, I'm cool with them actually doing some risk management and specing out a possible 2nd stimulous bill. I think it's really silly to start talking about it to the public. The the crying start ...

    March 10, 2009 11:12 pm at 11:12 pm |
  11. bk

    I have an idea- let's stop spending money we don't have.. isn't that how the whole mess got started anyway?

    March 10, 2009 11:26 pm at 11:26 pm |
  12. Reatte Beaumont, Texas

    keep flying in our military aircraft so that you can keep on spending.
    SPEND SPEND SPEND that is what you all are doing best both parties not just one they all need to be fired and start over again but the average american up in washington and the average american will do a better job than these dumb a.s.s reps are doing.

    atleast it use to be free at one time but keep on spending washington but remember you can be voted out on both sides of the isle and I pray that they are in two and four years if we are able to do that with all our freedoms getting taken away


    March 10, 2009 11:28 pm at 11:28 pm |
  13. Little too late????

    Ask for an inch, take a mile. Or is it, ask for $780Billion, take a Trillion.

    Here we go, America. This woman is going to sell us down the river and BO is going to go with her. His legacy will be shaped by her financial ignorance.

    Thanks, America....HERE is the CHANGE you voted for!!!

    March 10, 2009 11:30 pm at 11:30 pm |
  14. Axel

    I never went to college or studied economics, but it makes perfect sense to me that if people don't have jobs they don't have any money. If they don't have any money they don't buy anything they don't absolutely have to have.

    If people don't buy anything they don't need, businesses start laying off the workers who sell things for them. If those businesses are not selling anything, the companies that manufacture the products they sell also start laying off their workers as well. And then you are back to where you started where people don't have jobs, and it just goes round and round until the economy falls flat on it's face.

    In my opinion it all comes down to greed. If the prices were not so high things would ease up a bit. Because those who have it all are not willing to lower their prices or pay their employees a decent wage that they can live on, is exactly why we are where we are.

    The economy does not need stimulus packages. The government and the business community both need to learn how to properly manage money.

    March 10, 2009 11:35 pm at 11:35 pm |
  15. TnTaxpayer

    Great Idea, another Stimulus. The first one took care of the Big Bank/Corporation overspending, the mortgage overextending, the welfare recipients, and the illegal immigrants. Maybe the next one will have something for the working, or retired, tax paying, law abiding American citizens who are now hurting because they worked, spent wisely, and saved for their future, and then lost their 401Ks and IRAs.

    March 10, 2009 11:36 pm at 11:36 pm |
  16. Seen it all before

    Apparently Ms Pelosi doesn't think she got enough PORK the first time around. I hope Americans hold financial nit-wits like Pelosi responsible when the dollar collapses.

    March 10, 2009 11:37 pm at 11:37 pm |
  17. Weareallfamily

    great i love stimuluses and even if its just 2 million jobs i will still be thankful.Reid and Pelosi taking the crisis seriously,siting down with economists, I'm so thankful. thanks Reid thanks Pelosi, I love congress.

    congress always looking out for you

    March 10, 2009 11:47 pm at 11:47 pm |
  18. Dan J

    OK she officially has gone off the deep end.

    March 10, 2009 11:58 pm at 11:58 pm |
  19. Ravi

    Easy there, Madam Speaker. Let's sit back for a while and observe what the economy does, at least through the end of this year. Keep in mind that you're going to have to come up with the money from somewhere, should you decide to pursue a second stimulus..

    March 11, 2009 12:00 am at 12:00 am |
  20. Texas Teacher

    Come on.... after the mess Bush has made of this country... anything Obama does will be an improvement! Bush took a surplus and turned it into the largest national debt in history! He sold our collective Soul to China! So... now...let's let Obama try his plan... nothing he does can even come closs to the fiasco of the Bush administration! I'm really get annoyed with the Republican rhetoric that is trying to blame Obama for Bush's mess! It is really disgusting! Obama has been in office for only about 7 weeks... stop trying to compare that to Bush's 8 years of pure ignorance! Pffffftt..... scooters and brownies and Housekeepers efforts to be placed into the Supreme Court! Seriously... get real! Bush made the mess, give Obama at least a few months to try to fix at least some of it before you try to tar and feather him on the white house lawn!

    March 11, 2009 12:02 am at 12:02 am |
  21. Out of work

    Maybe Pelosi should pay for her second stimulous personally instead of charging it to my children and grandkids. I do not give my consent to a second stimulous Ms. Pelosi.

    March 11, 2009 12:03 am at 12:03 am |
  22. Sue

    pLEASE i BEG OF YOU ALL – eliminate the poliTICIANS> They are the ones who are STEALING our monies!!! God bless this destroyed country who is now worse than any other country on the GLOBE. WE, the USA are the largest thieves and destructors on this entire universe. Whsatever happened to the beginnings of this country??? We have old ourselves to the devils – the POLITICIAN> Eliminate their jobs mand we will all have our earnings bacvk again
    1!!! Isn't thi the way we started??? What the f- is wrong with you ill sick people – giving your wages to politicos who STEAL, ROB and GET YOU INto this horrndous deT? iF theY WWERE FIRED WE WOULD HAVE AN ECONOMIC UPRISE AND A true REASON FOR COMING INTO THIS COUNTRY – remember – WE WERE all immigrants.

    March 11, 2009 12:04 am at 12:04 am |
  23. House Diva

    where is this money tree located?

    and how can i get there?

    better yet; how can i get one?

    March 11, 2009 12:14 am at 12:14 am |
  24. House Diva

    and another thing....why does the government only have access to this money tree? what makes them special?

    March 11, 2009 12:16 am at 12:16 am |
  25. Ray from CA

    Another one? Of course no one will get along in congress. Republicans and Democrats both at fault! All they want to is bicker and bicker, us kids get a long better. I'm 16.

    March 11, 2009 12:19 am at 12:19 am |
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