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White House: No second stimulus in future

By Reuters
September 4, 2010

President Barack Obama: Stimulus? We don't need to stinkin' stimulus (Reuters)

The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama’s team.

Obama said on Monday he and his advisers are discussing further tax cuts for businesses to help create jobs, as well as an extension of tax cuts for the middle class, rebuilding U.S. infrastructure and increasing investments in clean energy and research and development.

The Washington Post reported on Thursday that the business tax cuts could be potentially worth hundreds of billions of dollars.

“There have been a lot of reports and rumors on different options being considered — many of which are incorrect,” said White House spokeswoman Amy Brundage.

“The options under consideration build on measures the president has previously proposed, and we are not considering a second stimulus package. The president and his team are discussing several options, as they have been for months, and no final decisions have been made,” she said.

Obama is expected to outline in the coming days and weeks several targeted initiatives to help spur the recovery and hopes Congress will approve them before stopping work to focus on November 2 elections.

Obama is to travel to Milwaukee to speak to a labor rally on Monday, the Labor Day holiday, and is to visit Cleveland on Wednesday. He is to hold a White House news conference on September 10.

Obama is under strong election-year pressure to increase U.S. job growth after an $814 billion stimulus plan he and his Democrats pushed through Congress in February 2009 saved or created millions of jobs but has not reduced the U.S. jobless rate of 9.5 percent.

Experts say a Labor Department report due on Friday could show an uptick in the U.S. jobless rate in August to 9.6 percent from 9.5 percent in July. Obama is expected to comment on the figures on Friday.

The Washington Post reported that among the options under review by the Obama team are a temporary payroll tax holiday and a permanent extension of the research and development tax credit.

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3 Responses to White House: No second stimulus in future

  1. woody188

    September 6, 2010 at 1:52 pm

    Check out this video with Max Keiser and Paul Craig Roberts on defending American jobs. Props to PCR, one of my heroes.

  2. Guardhouse lawyer

    September 6, 2010 at 3:50 pm

    Presstv.ir is Iran’s television network. And this guy Roberts is a WTC conspiracy theorist. I am absolutely certain that what is on Iranian official television is not something that is in the long term best interests of the United States.

  3. Carl Nemo

    September 6, 2010 at 4:08 pm

    Thanks Woody for the link. I found nothing repugnant about what seems to be the “truth” concerning offshoring and the slow, but sure dissolution of America into a both broke and broken “banana republic”.

    As far as Press TV being owned by the Iranian government who cares as long as the news provided isn’t obviously slanted.

    “Owned by the government of Iran, Press TV is a 24-hour English-language satellite television news service. Launched in July 2007, the service is designed to counter what the Iranian government sees as a steady stream of Western propaganda against Iran as well as offer an alternative view of world news. “We are the target of global media war, and there is hardly any media delivering on its commitment,” Iranian President Mahmoud Ahmadinejad said at a July 2 ceremony marking the station’s launch.”… extract from web article concerning Press Tv’s ownership

    I’d say the President of Iran is spot-on concerning our Western MSM having simply degenerated into a “sovietski” styled “Pravda”; ie, ‘truth’ as the shadowy oligarchs would have us believe it to be…no? : |

    Carl Nemo **==