So it’s clear: The economy will be gifted a second stimulus if the White House has its way (i.e. Congress complies).
The Obama administration made that clear on Thursday. Some combination of tax cuts, tax extensions, and new infrastructure program will be put in place to (hopefully) get the economy rolling.
The only thing is that you can’t call it a stimulus. That’s the official message from the administration, that no stimulus is being considered.
We’re guessing this has something to do with focus group politics. The word “stimulus” probably doesn’t poll very well, but tax cuts and infrastructure do, so that’s why the next stimulus won’t be called as such.
In his latest op-ed Paul Krugman calls on The White House to do something super-bold (on the grounds that the GOP will oppose it no matter what), but given how timid the administration has been in voicing this issue, we wouldn’t hold out much hope that it will be scale-tipping in any significant way.
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