Please, Not a Second Stimulus
Discussion is swirling in the Obama camp and among pundits of the possibility of a second stimulus package. Laura Tyson, an adviser on the president’s Economic Recovery Advisory Board, said in a speech in Singapore yesterday that the $787 billion stimulus package was too small and that the White House underestimated the economic downturn:
“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.”
