I believe this is the second person who has publicly acknowledged that we need a SECOND stimulus. This time it is Laura Tyson, Obama economic advisor.
The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an adviser to President Barack Obama.
"A bit too small" WTF? There were plenty of people who were saying that the first stimulus was not enough. But no, in the interest of bipartisanship we settled for something much smaller.
Good luck getting a second stimulus passed now.
Check this great insight:
“The economy is worse than we forecast on which the stimulus program was based,” Tyson, who is a member of Obama’s Economic Recovery Advisory board, told the Nomura Equity Forum. “We probably have already 2.5 million more job losses than anticipated.”
Often time you only have one chance to get it right.