Today’s disappointing jobs number is certain to trigger a serious push for a second stimulus bill.
The talk was already happening. Earlier this wek, John Judis at The New Republic argued that one was needed. Also this week, Obama responded to a question about a possible second stimulus by saying it was “too soon” to know whether one would be needed, suggesting that it’s certainly on the table. Of course, House Speaker Nancy Pelosi was in favour of a second stimulus before the ink even dried on the first one, so it shouldn’t be much of a stretch to get it through the Congress, especially with the Democrats newly-solidified supermajority in the Senate (welcome Sen. Franken!).
And now we’ve heard it at least 10 times this morning on CNBC. The market is looking for its hit.
Prediction: We’ll get it by the end of the year.
Question: Last month, when the layoffs came in light, Obama aides Christina Romer and Austan Goolsbee were all over the airwaves, playing up the green shoots stuff. Will they be taking an early 4th of July weekend today?
Update: Oops, we were too cynical; Romer will be on CNBC at 9:35 (sorry!). Looking forward to what she has to say.
Update 2: When asked about the second stimulus, Romer told Rebecca Jarvis: “Well do whatever it takes.”
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