The whole notion of a “second stimulus” is kind of a joke, since, as The Daily Bail helpfully points out, we’ve actually had something like 15 stimuli.
Yes, there was the one big spending bill known as the stimulus, but then you have the AIG bailout, the TARP, the tax rebates, Help-for-Homeowners, cash-for-clunkers, and everything else, each of which involved taking taxpayer money and the government somehow directing where it went.
Anyway, Calculated Risk points to a couple of stories suggesting that new ideas are being cooked up right now, which will be more explicity identifiable as further stimulants.
First, Harry Reid is introducing a new Jobs Bill according to The Hill. What the heck will it do? No idea, but it sounds good, and it will involve money. And, Obama will have business leaders over to The White House for a “brainstorming session” on jobs creation, which, frankly, is really silly and childlike sounding.
The session will probably involve folks like Larry Ellison and Jeff Immelt “brainstorming” all kinds of wonderful new tax credits to spur hiring, R&D, and anything else for which the government might pick up the tab.