Another Stimulus Plan?

Congress wants to spend more money it does not have on an economic stimulus plan that won't stimulate anything. This is pure madness and the will result in the destruction of the U.S. dollar and economic life as we have known it. The first stimulus worked so well, they might as well try it again.-Lou

U.S. must be open to second economic stimulus: Hoyer

WASHINGTON (Reuters) - U.S. leaders should be open to the possibility of a second stimulus package to jolt the economy out of a recession still causing job losses, House of Representatives Majority Leader Steny Hoyer said on Tuesday.

But in the Senate, Majority Leader Harry Reid was more skeptical of the need for more stimulus spending -- an idea that rattled markets fearful that the economy is far from well and corporate earnings could suffer.

Reid said he saw no evidence another stimulus was needed, saying the "shoots" of economic recovery "are now appearing above the ground."

President

Barack Obama led the charge for a two-year $787 billion stimulus package that his fellow Democrats who control Congress pushed through the House and Senate in February and he has argued it would help create or save up to 4 million jobs.

Despite continued large job losses, both Reid and Hoyer -- who spoke at separate news conferences -- said not enough time had passed since first package was approved for it to have the full impact on the U.S. economy, which has been in a recession since December 2007.

"It's certainly too early right now ... to say it's not working," Hoyer said of the initial stimulus package. "In fact we believe it is working. We believe there are a lot of people who otherwise would have been laid off, lost their jobs, who haven't done that."

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