Nancy Pelosi has got some stones:
House Dems eyeing another stimulus bill
At a special meeting of the Democratic Steering and Policy Committee on Tuesday morning, Democrats heard again from their trusted band of economists and came away reinforced that Congress would need to spend billions of additional taxpayer dollars in the coming months to help pull the economy out its severe recession.
One proposal being considered is an additional economic stimulus bill. Just last month, President Obama signed a $787 billion stimulus measure that Democrats contended was needed to save or create 3.5 million jobs and that Republicans derided as nothing more than debt-spending on wasteful federal projects…
House Speaker Nancy Pelosi (D-Calif.), standing with members of her leadership team by Zandi’s side, said she agreed that another stimulus bill is being considered.
“We have to keep the door open,” Pelosi said. “The word of the day is confidence. Confidence in our markets, confidence in lending, confidence in our financial institutions.”
Democrats leaned on the same group of economists they heard from before — including Allen Sinai, chief global economist at Decision Economics Inc.; Rebecca M. Blank, Robert S. Kerr senior fellow at the Brookings Institution; and Alan Blinder of Princeton University — to craft a stimulus bill that was $819 billion when it came out of the House before it was scaled back by Senate and House negotiators…
“What characterizes the current environment is a loss of faith,” Zandi said, noting that faith is part of what separates a recession from a depression. “People aren’t convinced yet that this is going to work…”
“The policy directions that we have been undertaking along with the Obama administration are the right course,” Miller’s co-chairwoman, Rep. Rosa DeLauro (D-Conn.), said. “Do they need to be adjusted potentially? Yes. We are not frozen in the sand.
“We should not be timid in these actions,” DeLauro continued. “When we have the confidence to move to address these problems in a forthright way and not be able to talk about spending dollars, then we will build the confidence in the American public that, in fact, we are doing the job that needs to get done to provide them with the economic security that they need to survive and take care of their families.”
This is Orwellian.
The Democrats have decided that it’s not possible that the stimulus won’t work/hasn’t worked. They know that it must; if it hasn’t already, it’s only because it wasn’t big enough. It can’t be because the whole strategy was wrong, or because it was only passed a month ago. It simply wasn’t big enough. Never mind that the Obama-Reid-Pelosi debt spending plan cost more than the Iraq War and the New Deal combined. It still wasn’t big enough.
And how do they know? They talked to the same team of advisers who sold them the first ‘stimulus’ bill. A team of economists who advised borrowing and spending hundreds of billions now advise spending more. Wow. Who expected that?
But House Democrats don’t want to spend this money – heavens no! They’re just brave enough to listen to the advice of a bunch of hand-picked advisers, whose strategy they implemented just ahead of the largest stock market drop in decades. And much as they hate wasting your money, they’re brave enough to waste trillions more – as long as their advisers tell them they must.
One question for Ms. Pelosi: what level of debt would be too much to put on the backs of our children and grandchildren?