Nancy Pelosi open to second stimulus package Story Highlights
"We have to keep the door open and see how this goes," the House Speaker says
House Appropriations Committee chairman's staff is preparing second proposal
More taxpayer money will likely be needed to bolster economy, economist says
Economist questions whether current stimulus will save or create 4 million jobs
From Deirdre Walsh
CNN Congressional Producer
WASHINGTON (CNN) -- House Speaker Nancy Pelosi said Tuesday that another stimulus package might be needed to help the ailing economy.
House Speaker Nancy Pelosi met with economists and other Democrats on Tuesday to discuss the stimulus.
Pelosi, whose comments followed a meeting with several economists, said the measures already taken by the Obama administration are helping to restore confidence in the shaky financial markets.
But "we have to keep the door open and see how this goes," the California Democrat added.
House Appropriations Committee Chairman David Obey of Wisconsin said on Tuesday night he's already instructed his staff to start drafting a second stimulus proposal. Obey said his staff is preparing the outline of a stimulus bill but he cautioned there is no timeline to move on it.
One of the economists in the meeting with Pelosi and other Democrats, Mark Zandi with Moody's Economy.com, said more taxpayer money would likely be needed to bolster the economy.
Another economist, Allen Sinai, chief global economist at Decision Economics Inc., urged patience. But he questioned President Obama's prediction that the $800 billion stimulus package enacted last month would create or save as many as 3 million to 4 million jobs.
Senate passes $410 billion spending bill
"Initially ... the jobs created may be a little disappointing," Sinai said. |
