PT Money

by PT |  Print |

Need some more stimulus money in your pocket? Obama’s adviser is pushing for a second Obama administration stimulus. Laura D’Andrea Tyson, one of his economic crisis panelists is stating that Obama should create a second stimulus because the first one wasn’t big enough for her liking.

Obama’s initial stimulus, which was technically this recessions’ second stimulus, gave us each $13 more dollars a week. Bush rolled out the first stimulus back in early 2008, which gave us the one-time stimulus check of $600 or $1,200.

Even Warren Buffet is weighing in on the issue of a second stimulus, saying “I think that a second one may well be called for.”

I’m not positive more spending is the answer at this point. I do, however, think that a one-time payment has more of an impact on every one’s personal economic psyche that the Obama stimulus, which essentially amounted to a tax break given out over time.

At this time there is no real plan to give out a second stimulus, just chatter.

Over the weekend, the President did combat all the second stimulus talk with a “let’s wait and see” approach. He said “the $787 billion stimulus program must be given a chance to work before consideration is given to a second such jolt for the still-ailing economy.”

So what does this mean for you? Will you get another stimulus check in your hands soon? Will you get more stimulus tax cuts? Will you get anything? Do we need another? At this point, it still seems like a waiting game. I’ll let you know as soon as I hear more.

Related posts:

1. Obama and Bush Talk About Second Economic Stimulus Check
2. Obama’s Second Stimulus Credit Equal to $13 More a Week
3. Tuesday Tax Tip: Recovery Rebate Credit (Economic Stimulus 2nd Chance)
4. Obama’s Economic Recovery Plan: New Details About the American Recovery and Reinvestment Plan
5. Stimulus Check May Be Coming to Those That Initially Didn’t Qualify