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Second Stimulus Package

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Money Money MoneyBack in June, Democrat Presidential nominee Barack Obama suggested that a second stimulus check was necessary. I wrote about it because this was hot on the heels of the first stimulus check and it appeared as though Obama was catering to the masses. In reality, he was running point on a proposal House Democrats were pushing because so many of their proposals were left out of the first stimulus package.

With the credit freeze only now thawing, with both consumer borrowing and spending down, and with the prospects of a weak retail holiday season and rising unemployment, a second stimulus package designed to give our economy a shot in the arm looks pretty appealing now. Even Fed Chairman Ben Bernanke, in testimony given before the House Budget Committee, endorsed the idea of a stimulus package. More importantly, the White House said it would consider additional spending measures; it’s not an all-out endorsement of a second package but it’s better than flat out rejection.

Before anyone gets all giddy, most experts are saying nothing would happen until after the November 4th election. As it stands, most reports are saying that most of the proposals being pushed for the second stimulus package involved measures that were dropped from the first stimulus package. Those proposals included infrastructure improvements and extension of unemployment benefits & food stamps, all told costing about $150 billion or more.

Specifically, Speaker Pelosi wants to bring back a $61 billion House-passed bill:

  • $37 billion in public works spending (infrastructure)
  • $6 billion for jobless benefits (unemployment)
  • $15 billion to help states pay for Medicaid bills
  • $3 billion in food stamp assistance
  • A stimulus check (tax rebate) of some kind, though no details

I am not a fan of the “stimulus check” concept (is it really spending if we are just borrowing from the future?) and I don’t see how all the other spending is going to stimulate the economy (it’s said that the public works spending could be implemented very quickly, thus producing jobs… but it’s public works, that just sounds like it would take a long time). Jobless benefits and food stamp assistance will lessen the pain but they don’t stimulate the economy. Finally, in most states you already get twenty-six weeks of unemployment, that’s six months, isn’t that fair?

I guess we’ll have to see what gets proposed.

(Photo: Tracy O)

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112 Responses to “Second Stimulus Package”

  1. casey04950 says:

    6 months enoough to look for a job. I am an educated woman in my early 30′s. I have certifications in the MR field. That is great if i could find a job that is not 30-45 miles away. ( gas prices, vehicle repairs, winter driving) to say the least. I have been offered a job in my field but i would have to stay at my job for 48 hours at a stretch…I have children, what am i supposed to do with them. My husband works nights already. I have applied at every local store, pizza place, restaurant, shoe mills)etc. in a 20 mile radius. They have consistently hired teenages over me. And how r u supposed to open your own business when no one is buying anything, much less services.( childcare, housekeeping, in home care). So yes an unemployment extension would help until the economy comes back around, or our jobs stop being sent overseas. It is time to rebuild america, not china.

  2. casey04950 says:

    And in response to the gentleman who said that we should sell off our belongings to survive., sell what, my kitchen table. Or maybe my vehicle. I have a computer that i bought back when i was working, before i got laid off, it is so outdated i might get 100.00 for parts. Don’t judge or expect that everyone is just out their for a handout, waiting for a job or money to fall in their laps. But remember that I like you are just trying to do the best for my family and children in an uncertain economy. This is not a third world country and our children should not have to live like it is.

  3. Anonymous says:

    A SECOND STIMULAS CHECK WOULD BE GREAT! MY HUSBAND AND I BOTH WORK EVERY DAY AND STILL HAVE TO STRUGGLE TO MAKE ENDS MET. NOT EVERYONE IN THE US IS BLESSED WITH HAVING MONEY OR SOMEONE IN THEIR FAMILY PASSING AND LEAVING THEM WITH MONEY.
    FOR THE PEOPLE THAT WORK EVERY DAY AND STILL HAVE TO STRUGGLE TO TAKE CARE OF THEIR FAMILIES AND NOT SITTING ON A NEST ESGG NEED HELP!!!

  4. Anonymous says:

    the idea of adding weeks to unemployment is great for workers who cant find jobs…but how about increasing limits on checks with the rate of inflation. I collected 18 years ago in maine and the check was 198.00..in that time it has increased a mere 8.00 per year…what a joke…i realize something is better than nothing and we’re grateful to have it but how does one live on this?

  5. vicky says:

    I WORK EVERYDAY ANDI NEVER HAVE ANY MONEY LEFT OVER TO BY ME SOMETHING NICE IT’S EITHER BUY FOOD OR PAY YOUR UTILITIE BILL WHICH I THINK IS A BIG RIP OFF SO A STIMULUS CHECK HELPS ME A LOT AND I WOULD LIKE TO SEE THE AMERICAN PEOPLE BE BAILED OUT INSTEAD OF BIG GREEDY BANKS BEING BAILED OUT WHO GOT THEM SELVES IN THIS SITUATION IN THE FIRST PLACE HELP THE ONES WHO WANTS TO HELP THEMSELVES PLEASE THANK YOU

  6. Vickie says:

    Hey Rick it costs money to move. I just moved twice within 1 year and its very expensive so if your already without a job how do you think someone could manage that especially if you have children? I’m curious.

  7. Amy says:

    I’m with the stimulus check, see, if we didn’t have big government and they had not forced all this modernization onto the American people, we would have plenty of land to grow things, and plenty of forest to hunt. We wouldn’t have to have 9-5 jobs that don’t pay the rent. We could just move if things got bad, we could just work harder if we needed more. Things are the way they are because of people’s greed. I have never been greedy a day in my life, I was raised upper middle class America, and I have an education. However, me and my husband, just make ends meet, and can grab the unexpected expenses in a while….We could take care of our family if we weren’t in a modern world, however, the government says our children have to be in schools…..if it weren’t for this, and all the modernization of our landscape there would be no problem. So yes, a government that messed my life up before I was even born does owe me something.

  8. goddessoflubbock says:

    I was laid off in Feb from a job I had for 5 years. I have 2 children, one of whom is autistic and was on SSI. In addition to losing my insurance along with my job, my son lost his SSI because although my income was less than half, it was “unearned” and so counted differently. My insulin costs $200 a WEEK…that doesn’t include other meds.

    I’ve always prided myself on being very frugal. We cook at home 6 nights a week, no leftovers are ever wasted, lunch was always a brown bag. My coworkers used to laugh. When I bought my house 6 years ago I bought WELL within my means.

    “Luckily” I was found to be diabled by the SSA within 2 months of my app and started gettingpayments 5 months after my work ended. Meanwhile, my retirement fund is gone, my kids have no insurance, and my husband finally found a job but of course no bens there either.

    If anyone out there is too proud to take a stimulus check should the govt send one, email me – I promise to put it to good use.

    PS We haven’t owned a car we had to pay on in 15 years. We live on a cash basis. This is probably why I didn’t lose my house.

  9. Misty says:

    I think it is so funny, that the wealthy need help from the Goverment, and the middle class suffer. I will take my stimulus check and why should you care were the money goes, its not coming from you……

  10. janard hartley says:

    well this is what i say about another stimulus check please send one we need it very much but i hav,ent hard anything about it sence his first talk about it it,s like he,s forgot about it.sometimes i think it was just talk will see.i hope he,s don,t lie like the others just too get in.

  11. Chasity says:

    I think putting more money to the state medicaid programs is a MISTAKE! The medicaid programs need to be more strict on who they let on. I understand that there are people out there that need help, but I get SO tired of seeing people live off the state. I don’t think women who sit at home having babies every year and don’t know how to get a job should get medicaid. I’m sorry, but I don’t. I don’t think illegal immigrants should be eligible for medicaid. If they can’t go through the legal process to be an american, then why should the US tax payers be spending money to pay for their healthcare? That’s bull. Medicaid was made to help struggling familes who’s children, and some adults, who can’t afford healthcare can get help. It was not meant for losers who don’t want to get a job or follow the rules.

    I don’t think the stimulus checks are a good idea either. As much as I would love to get another $600 check sent to my mailbox, I know that it is just a waste of time and money. The government needs to focus on things that will actually help the economy. And if they do decide to send out those checks, I don’t think everyone should get one. I think they should be limited to low & middle-class WORKING americans. If you’re living off the state and don’t want to get a job, then why should the government give you any more money. The people who deserve that free money are the people who are trying to make ends meet and just can’t seem to get there.

  12. GOD"S Child says:

    I am not tired nor upset with anyone. People have a right to an opinion, but i feel no one should complain about anything. Yes, there are women not working and having babies. Yes, people could move to a diffrent place to find jobs. Yes, people are crossing the american border. So what. That is not why the economy is decimtaed. We as a people have to learn and understand that our lives are temporary, why are you worried about what someone else in a different city is doing. Why are you being selfish for other people. You might not live to see tomorrow. Stop Complaining and troubling yourself with what americans are doing in their spare time. Live the life you have left and enjoy. Be Joyous and let God take care of what we won’ let Him.

  13. T T says:

    Before you throw insults and ignorant hateful words around- try putting yourself in others shoes and walking around for a bit.

    single Mom supporting a special needs child…barely making ends meet. Sometimes there are no easy fix answers- you MAY think there is, but when you get down to it- it just doesn’t work. Keep your chin up and keep smiling! :o ) Tomorrow is a new day. Be nice to yourself and others.

    Merry Christmas everyone and I sure HOPE we DO get a 2nd Stimulus Check.

    If all else fails, keep some humor. “…Smile and wave boys….smile and wave…”

  14. lyndaisha says:

    I hope the government will make the right choices to send out a second stimulus check I am a single mother and I am trying my best to make my money last but they really do need to send them out it would help alot of people. Everyone work really hard to make end meat and the American People need the government to be smart and send out a second check. Merry Christmas to all and I hope we all have A great new years

  15. Cassandra says:

    I think that everyone who is saying that a second stimulus is a mistake is not being honest. I put everything that I own on it. Yeah, they say that, but as soon as they get it they will go and spend it and that is the truth and they know it. There are some people who did not get a stimulus because they did not qualify for it and they are just mad that they did not get one and that is why they are saying that they think that a second stimulus is a mistake. I think that it is a great idea and I feel that it will help this country and they all know it. Stop lying you all who say that they think that it is a mistake is not being honest. That is my opinion and I don’t care this is how I feel.

  16. Anonymous says:

    Well Im All for a second stimulis check because we are really struggling and that would really be a help to some families who are barely making it .

  17. tara says:

    i wish we would hurry up and hear when we are going to recieve the stimalas check i am in debt up to my ears i wonder how much it is going to be and if my family quailifies.

  18. karen says:

    don’t feel bad i don’t even have a home,apt. i live in my sisters driveway theres no room at the inn. have no job temporary services can’t even find me a job

  19. desiree says:

    Well, I believe that the purpose of the stimulus checks are to help “stimulate” the economy, but what is the point in that if when there are people out there such as myself who have been unemployed and are in debt? If I can speak for myself, the check will be going towards debt. Now how is that stimulating the economy? So to me there are pros and cons….. but I sure cant wait to get it in the mail and hopefully it will be more than $600 this time!!!!

  20. Anonymous says:

    Mine was only 300 so be glad you got 600!!!

  21. Jackie says:

    I think that another round of checks would help the poor who desperatly need it. If the government wasn’t so into giving themselves a huge raise every couple of years we wouldn’t need it. I would love for anyone of them to trade paychecks with me and live on the measly $14,000.00 a year I make. That is for a family of 4. I work for a State agency how pathetic.

  22. sased2001 says:

    well were do you start alot has gone on in the last year. Rebate checks would be nice,better schools like the no child left behind needs lots of improvement.I am a parent of 3 and wife that has ms so only 1 income and work very hard to make ends meet america needs change and we need to look out for are selfs if we get these rebate checks for 2009 lets do it right 300.00 or 1500.00 dont go to far I need a good car and supples for a sick wife and better education for my ad/hd son and other issues that I wont go into PRESIDENT OBAMA has the right ideas but will congress money hungry people allow him to do his work that needs to be done on america please President hear america crying fix it and fix it fast we need a bigger rebate check and america needs to spend it not save it.

  23. Debbie says:

    I think a Stimulus Check is very much neede by the American People, but $600 is not going to do it. Instead of giving these greedy banks and Wall Street Cronies MILLIONS of dollars, this money should be given to the American People. I have a job and am thankful for that. I pray I keep that job and I am working 60 hours a week to be the best I can be so I am an asset to my employer. I earn less now than I did 10 years ago due to increases in insurance premiums and the cost of living. I walk on eggshells at work so I don’t get fired for the smallest thing. I have seen this happen as employers now have the pick of the crop for hiring people and everyone is replaceable! Unemployment should be 52 weeks and not taxed! It is barely enought to survive! I have never collected it, but I would never begrudge anyone who is laid off and needs it. And there are NO jobs out there. The McDonalds in my area is requiring college now! I am college educated but the whole world isn’t. And to move to another place? Who ever said that has surely never moved in these times. It take quite a bit of capital to move! If you have a home, you have to sell it. Good Luck and if you rent, you will need first, last, and current months deposits. Get real. Someone who is barely surviving is not going to be able to move! Pray God the new administration gets over this “trickle down” theory and begins to realie that when you break the Middle Class Working Peoples back, you break America!

  24. Michael says:

    It is a Tax credit not a stimulus check. It will be $500 for every working individual and $1000 for every working couple- additional if you have qualified dependents. If the Senate passes this in the next 2 weeks – we should be able to get it starting this May 2009. That’s if the Republicans do not delay it. The Republicans do not want to pass this – because they believe that there are too many social programs attached to this bill. I think Republicans are just mean-spirited.

  25. Jameson says:

    A second stimulus check has its pros and cons. I didn’t get the first stimulus check because I was 17 under my parents. I’m now paired with my girlfriend, and declare myself independent.

    A stimulus check is intended for people to go out and buy. By doing that we should be able to get more manufacturing and such. Jobs should be brought back and so on. You all know the rest. But, after everybody blows their stimulus check, we will fall into the same place.

    We cannot simply pull every soldier out of war. Thats like if you had to get a heart surgery and the doctor stopped in the middle because he knew you didn’t have the funds to pay it. It’s okay to tell some people to leave, so its okay to pull some troops back. But we cannot just do a 100% withdraw. Its too dangerous, too risky, and too much of coward on us.

    Times like this causes people to be greedy. They want to hold on to their money. The other day I went to a store to look around and I saw at least two people shoplifting. I considered doing the same since I have less than $10 for a week. But I decided against it.

    But on the other hand, receiving a stimulus check would be very handy. I could pay off my credit cards, and still have a little money left over for myself. I work full time getting paid bi-weekly. About 70% of my check goes to bills, rent, gas, and grocheries, leaving me with hardly anything. My girlfriend just got laid off since she didn’t have any work to do. So now I support her as well with my 30% left over. Everyday I search for jobs for myself and for her, and we cannot find anything. Her mother sells a lot of old junk and gets hardly anything for it. It’s almost pointless to go and sell all your stuff because of depreciation.

    But, my girlfriend and I don’t plan on just sitting here waiting for money to just pop in our laps. She looks forward to a stimulus check really bad. I just shurg and hope for the best. We plan on starting two businesses within the next year or two. If anybody else out there is trying to do the same, think of something unique to yourself that will generate business. For example, one of ours is going to be a computer repair shop. That is so common in this area, so that one will take a long time to get going. Our second idea is a beauty pageant, which there is only one in our location. So, seeing how there are beautiful girls (none as beautiful as my girlfriend!), and how the economy isn’t doing so well…we know we can get some contestants by charging cheap. And in the long run, we don’t plan on hording our income. We do plan on essentially recycling the money: going out and buying new products for us, for our kid (Kipper, he’s a dog :D ), and for our business.

    To get the economy on our feet, we all have to make an effort. We cannot simply count on one person: Obama. I’m not a big fan of him, but I am also very open minded. One man cannot change a nation. We, the people, can. Stimulus check or not, we need to organize our money, make payments, and buy goodies here and there for yourself. Going out to eat doesn’t save money, I would know. Instead of buying doughnuts for $2, go buy a dozen of eggs for $2 and make yourself breakfast.

    We didn’t become the 13 Colonies becaush Washington didn’t want to. No, we revoluted as one, and we became one. We can’t point fingers to the government, to different classes, to anybody. I grew up with my friend, who is upper class. Lived with my family, who is middle class, and now I live in the poor class. I almost starve each week because I care about my girlfriend and my bills more than myself. I don’t care though, I’m helping somebody, and it makes me feel good. Take a stand, and move on.

    Oh, by the way. The second coming isn’t happening any time soon. I am christain as well. But I often question…is God really watching for us and carrying for us? It’s not a test in faith, because I still believe in him and Jesus. But, I also think in more logical terms. We came to this planet through unknown sources, and we will leave this planet on an unknown day. Every human, no matter their class, will travel in space some day. We will pull out of the depression we’re in. Just make an effort and give it time.

    Sorry for the long post…it’s just my ideas and views on everything…which always tend to be correct? People think I have an extra “power” because I can predict the future so well. Ha. Well, back to working. Can’t get fired. ;)


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