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November 7th, 2008

Obama: Expect Another Stimulus Package

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In his first press conference since becoming elected president, Barack Obama addressed reporters after a meeting with the “transition economic advisory board, a high-powered collection of business, academic and government leaders.” The press conference offered virtually nothing in the way of announcements. Perhaps the only definite that Obama led onto was the need for a second stimulus:

“We are going to need to see a stimulus package passed, either before or after inauguration.”

Mr. Obama says he’d like to see a stimulus package “sooner rather than later,” and if not passed in the lame-duck session, he will do it first thing when he takes office.

The president-elect is not expected to announce his choice for treasury secretary today or over the weekend. Sources say Mr. Obama is considering former Treasury Secretary Lawrence Summers, former Federal Reserve Chairman Paul Volcker, and former Treasury Secretary Robert Rubin for the position.

With the likelihood of a second stimulus being passed “sooner rather than later,” as a consumer, what do you believe should be included?

Click here to read the full text of President-elect Obama’s remarks.

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3 Responses to “Obama: Expect Another Stimulus Package”

  1. Lucia Says: November 10th, 2008 at 8:02 pm

    My income has dropped to 1988 levels, so I should qualify for the next rebate check, but I’d really like to throw it back in the gov’t face. Should I send it to the RNC? or a pro-life lobby? or something akin to a conservative charity?

  2. David Dzidzikashvili Says: January 23rd, 2009 at 5:13 pm

    Obama’s stimulus plan should also envision changing regulations & economic policies to have short-term & long-term effects on unemployment, middle-class and the market stability. Strengthening the middle class and creating more job opportunities should be the primary objective of the package, rather than handing the blank check to the Wall Street and failed big corporations.

  3. Tim Manni Says: January 27th, 2009 at 10:55 am

    David,

    Thanks for your comment. This stimulus package could say a lot about the new president. I agree, hopefully money won’t be thrown at major financial institutions, instead it should be spent on “short-term and long-term” initiatives to strengthen jobs as well as influencing regulation to make sure these issues never arise again.

    Thanks again for reading,
    Tim

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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