Another Economic Stimulus Package? Second Round of Checks Coming Up

While the dust is just settling after the first round of economic stimulus payments, we’re already hearing rumblings from Congress about a (possible) second round of checks. I first wrote about the possibility of a second stimulus payment in the context of a campaign speech delivered by Barack Obama.

It now appears that the idea is gaining steam, with Speaker of the House Nancy Pelosi saying “We will be proceeding with another stimulus package.” According to an AP Report, a new bill could include: additional tax rebates, heating and air conditioning subsidies for the poor, infrastructure projects, higher food stamp payments and aid to the states.

Pelosi went on to say that she “would hope that (tax rebates) would be part of any package.” Senate Majority Leader Harry Reid was less enthusiastic, saying:

“The first thing we need to look at before we look at tax rebates is, what can we do to stimulate the economy? And that’s infrastructure development. That’s bridges, highways, dams, and to put massive amounts of money into an infrastructure for renewable energy.”

For their part, Republicans are proceeding with caution. For example, House GOP whip Roy Blunt said:

“To my Democratic colleagues who want this Congress take up a massive, taxpayer-funded ‘stimulus’ package, I offer them this piece of simple advice: the best way to stimulate our economy would be to take meaningful steps to reduce the price at the pump.”

And President Bush argued:

“Let’s see how this stimulus package works and let us deal with the housing market with a good piece of housing legislation, and the energy issue with good energy legislation, and the trade issue with good trade legislation.”

Either way, it’s unlikely that we’ll see anything in the way of new legislation until September when Congress returns from their summer vacation.

63 Responses to “Another Economic Stimulus Package? Second Round of Checks Coming Up”

  1. Anonymous

    I agree with alot of this article. Lowering gas prices would be nice. Lowering the prices of alot of things would help. Yes there are alot of people who need the help from the state because of being layed off due to jobs being transferd overseas. Why don’t we try to keep the jobs over here, yes it may mean paying more to people to work it, but it is a start. The seasonal jobs, why not let the people who have been laid off have first pick. Some people are under the impression that those who go to the state for help for such things as food or insurance or to even keep a utility on are mooching off of the state. For some people that may be true, for alot of the other people that is not the case, they feel bad for even asking for help in the first place.
    Now as for the people who’s record is being held against them for years on end that have a hard time getting a job, why not make it a federal law that employers can not hold records agaisnt people lets say after say 8 years or so, along with HUD. People need a chance to support themselves or their familys. People need a place to live.
    I know exactly how to help the country boucne back after all of this : all the higher ups such as our law makers, Postmaster general etc.. take a pay freeze until all of this is over with. That should help quite a bit.

    Not all people are bad, but some of the law makers are making things very difficult for the people who put them in their current postion. Everyone needs to remember the “little people” that they had to step on to get where they are at!

  2. Anonymous

    I think it’s a great idea to send out a second round of stimulus checks to the one who need it most. People what we should and i feel a lot of us have forgotten,is this new president we have has taken on a very,very,big task.The situation our country is in did’nt happen overnight so it’s going to take a while before we see any changes.Support your president, and your country remember these words if you don’t remember anything else it’s going to get a lot worse before it gets better.I think what a lot of you don’t realize is that everything has gone up in price example:food,gas,taxes,etc…,

  3. Anonymous

    still waiting to hear about the 2nd stimulus check everyone is waiting for. WELL…………….. get this
    if you have worked in 2008 you will get a check. how
    much depends on your earnings.

    WHERE’S…………………….. a check for the
    the elderly and people who are on disability. Where is
    the genius who can answer that?????? H&R BLOCK
    don’t have that answer, they just do your taxes every
    year.

    Come on people let’s wise up you work, you get. You
    don’t you work, you do without.

    STAND UP AND CHEER FOR OUR NEW LEADERS

  4. Anonymous

    do you think disable vets, who gave there all for this
    country the usa. should get a little of this money? they
    should get more for keeping us safe. they lost there legs and arms and have pdsd. they have earned it. i wish we could give more to them and there familys never
    for get our vets

  5. Anonymous

    WOW! ever since the first bail out all the greedy companies is sticking their hands out for money money money, but not really doing anything for others, but them self. The reason why sh*T is happening the way it is now is because all these greedy companies like banks, general motors, wall street etc…. just want more money for them self and take high expensive vacation while others is busting their A** to make ends meat. Why not give every honest working american 1 million to pay off their mortgage so they can keep their homes. there problems solved and still save money. that will save congress more money instead of buying bad mortgages!

  6. Anonymous

    nowwwwwww wake up america. concerning the 2nd
    stimulus checks. i tired of hearing people complain
    ” i tired of paying for your welfare and taxes blah blah”.
    usa pay up. if the government can bail out these car
    companies with our hard earned earnings why not put
    where it counts. THE POOR PEOPLE……..
    we didn’t tell these companies the set outrages prices
    on automobiles. the materials for cars are not that
    costly. so why don’t they bring those prices down.
    GREED GREED GREED. the love of money is the root
    of all evil. the love of money. america put the blame
    where it belongs the RICH RICH RICH

  7. Anonymous

    Rosetta – I don’t know how anybody can take you seriously when you refer to me as being the “stupit” one. You can’t even spell “stupid” correctly. Ha!

    Twinkie & Everybody Else – You need to wise up. You keep looking towards the government as being the solution to the problem, yet you fail to understand that government is the cause of the problem. Look at what Ron Paul has to say. The cause of our current economic troubles is idiot voters that keep voting for the big two political parties. The two big parties create little arguments to bicker about and create the illusion like you need to pick the party that best fits your views. The reality is that the two parties are the same on all important issues and they don’t even debate the important ones! Both McCain and Obama were FOR the banker’s bailout. What kind of choice is that? I’d bet that you were one of the suckers that voted for one of them (or didn’t vote at all). Wise up. Start voting 3rd party now and often!

  8. Anonymous

    I agree with you NCN cut taxes. I believe all that will happen is the illusion of cutting them. Like the food and grocery tax, Cut it and raise the price of food. That rteally helped the people didnt it. I dont know where this country will end up. But its not looking to good to me. They still have the money for space stations, and bio-chem study, wasteful wars, but the economy is still spiralling to unmarked depths of poverty. The rich and well off, are they feeling this. Are they the ones on this site Shusshing us ?

  9. Anonymous

    I understand your point Mike Z about gov. taking money that is already ours. I believe thats completely true. On the other hand most of us are barely making it. I dont want to waste alot of space complaining and trying to make get sympathy, WE ARE ALL FEELING THE EFFECTS OF THE B.S. so I and my family will continue to take stimulus checks, and paying bills and surviving. And a suggestion stop being so critical of us, in terms of assuming that the people that need the checks are on welfare. The average person getting on welfare these days didnt have any other choice. GROW UP PLEASE! Start making some suggestions that help us get through these times, some ideas that make since. Because choosing to let our children starve to death trying to revolt and protest, is a ridiculous retarded idea. Oh and by the way we are not on welfare!

  10. Anonymous

    mike you are stupit i work 2 jobs i don;t get welfare learn to read then maybe you could get a better job am just trying to see if averyboy gething excheckers

  11. Anonymous

    am a mother of 4 and i work person i new more help to pay for bills i work 2 job i like to more home with my kids but i can;t new to work to pay for stuff

  12. Anonymous

    Well, than that’s your problem. I work hard too and I shouldn’t be forced to pay for your welfare. I’ve got my own problems to deal with. I’m tired of our taxes being jacked up and having our savings being robbed from under us with inflation. It’s time to stop the government handouts.

  13. Anonymous

    I think another check would be so great right about now because christmas is coming up and everybody dont have a job to buy their kids anything for christmas and it wouldnt hurt to take them food stamps up either.I hope the check come sooner cause i have some billls i need to get down.But i thank god we got somebody in the white house that is gone look out for us poor people THANK YOU GOD.

  14. Anonymous

    when will we be receiving our second stimulus checks in the mail. hopefully before christmas cuz some of us middle xlass people will like to be able to give our kids a decent christmas. with these gas prices its been seeming almost impossible.i hold 2 degreea one in computer information systems and ptt license and its so small where im from theres not many jobs but far away and with gas prices thats another big bill. ive worked hard all my life and i feel if i had the chance i would go back to school to make more money cuz now you need almost a bachelors degree to be able to make it today.

  15. Anonymous

    Doesn’t anybody realize that the government isn’t just this abstract entity that can create wealth out of thin air (money yes, by printing more of it – but wealth NO). Another stimulus check would be nothing more than taking your own money away from you (in the form of taxes and inflation) and then handing it right back to you for political gain.

    I would certainly love another stimulus check if it were free and clear money, but it isn’t. Somebody has to pay for it – and that somebody is “us.” They simply shouldn’t take it from me in the first place.

    If this is a concept you cannot understand, you shouldn’t be voting.

  16. Anonymous

    if you have a problem with recieving another check just return to sender so that it can be given to someone that needs it. hopefully those that are complaining about the last stimulus check didnt spend it or they are stupid ass hypocrits!

  17. Anonymous

    kitty, cut down a tree or feed and clothe families. give me a break! our concerns need to be people, cut down some more trees and build fire places in every home to keep people warm during cold season.

  18. Anonymous

    money conversation, that was an ignorant comment, most people used it to pay rent to keep our families from being homeless or foodless. if you used it for a vacation, then obviously you should not be recieving one. just return to sender.

  19. Anonymous

    I am all for it. The first check went to pay for my kids daycare, and clothes. We are a hard working 2 income family, but we barley make it month to month. We have good jobs and make enough to live with no extras. Mac and cheese dinners, hamburger helper, and $.99 totino’s pizza’s….thats all we can afford. We bought our house, and its a small 1200 sq. ft. house, and well within our means.

    But 4 years ago I got seriously ill, and was in the ICU for over a month, out of work for 6 months, and had 4 surgurys removing about 12″ of my colon, then they had to replace a repair patch in my stomach which was recalled by the government, because It was causing internal bleeding, all at my expense. While out of work, I couldnt collect unemployment, because I was unable to work, was not eligible for social security, and didnt qualify for disability, because I was on my current job for less then a year, so I had no income. We have dual health insurance from both my job and my wife’s job. But since Bush got in office he changed the way dual insurance works, so the secondary insurance was worthless.

    So now after all the surgury’s and hosipital bills, I had no choice but to file chapter 13 BK to save our house. We pay $2400 a month to the courts just on doctor bills, plus living expenses, daycare, gas, car payments, insurance, and food. So for a family of 4, making right at 100k a year, we only have about $1700 a month to live on. So thank you G.W., for changing the health insurance laws, and bankruptcy laws. You really hurt hard working family’s like mine. We have never had credit card debt, or excessive debt, never collected un-employment, welfare, or food stamps. But when needed, we were not eligable for anything and within a week of becoming homeless when we filed for chapter 13 protection (which we barley qualified, with the new laws). So all I can say please send the checks…. we desperitly need them. And its not for un-needed luxuries…its for the little things like keeping the power on, paying our car payment, and the water bill. Please help us… America’s forgotten, the lower and middle class.

  20. Anonymous

    We need another stimulous check!!! I am a mother of 3 and the first one was terrific, but not enoght with all the bills and me working full time and also having a disabled son and the bills going up up up [gas electric phone gas for car etc.. And also being told by public aid i make too much money to get help. I just wanted help until January, income tax time. I as a working mother my whole life and never asking for help from the goverment, like some people that dont need it, but they know how too work the system, I am insultedl!!!! The goverment needs to make something for a mother like me who dont want help all the time, but sometimes we need it. Make a program to reward single mothers who dont ask for help{even thogh they can get it but try too do it alone}.THANK YOU FOR READING THIS

  21. Anonymous

    Parents who co-signed for Student Loans should be able to deduct the interest on the front page of the 1040 if they have taken over the payments for the defunct student who may be incarcerated or because such student has not or can not make the payment. Private Loans obtained through Sallee Mae have extremely high interest rates. Without a co-signer some Loans would not be granted. This puts parents in a position of denying their son or daughter an education even though co-signing is undesirable. Interest daduction would help regardless of the child’s age.

  22. Anonymous

    Even though I could really use another stimulus payment, being a single mom of 3, I would much rather have my job back. I was recently laid off from a decent paying job, a union job. I worked my butt off. But the company decided to send our work to Mexico and China. Not to mention some of the connectors we built are for the military! Anyways, maybe if we STOPPED fair trade and brought BACK our jobs to the United States, unemployment would go down conciderably AND people wouldn’t need stimulus payments, and neither would the economy. People would be able to pay their mortages, and bills. This last lay off they had has effected the community drastically. It is a big company, in a small town. Small businesses are closing down.
    I am also tired of hearing about how “poor people” shouldn’t get the money because they’re lazy and need to get a job. Do you think we asked to have our jobs sent else where? PLEASE. And I can’t even find a job for as much as I make on unemployment. I would have to take a cut of pay by 50%. So… all you people out there who think you are secure in a job after working 20 to 30 years there, beware, you too could lose your job and need a little help.

  23. Anonymous

    I work weekly to pay tax, ss, and health insurance. I look forward when is time to file tax, because at least I know I would have extra change for me and my kids. Not everyone live in high economic standards. If I receive a good income tax check is because I earned it. If you have to pay back tax is because your annual income can pay me and others a salary. I’m not one of the fortunate to make $50,000 a year. So, yes it would be very nice if the Democrats work together to assist us who are in need depending on weekly checks to be responsible and pay for weekly bills.

  24. Anonymous

    OK…In response and reflection on Kel and a few others… When credit cards were first made available to people, most of us were not taught how to use them. From companies who prowled on college campuses to tables set up in stores and TV ads and flyers…we have all had the wool pulled over our eyes! They were brought about by greedy money mongers and now everyone from upper to lower class is paying the price! How did they expect the economy would end up when companies offered people who would normally have to save up money for a year to buy a TV and give them easy money, thousands they can use TODAY. Its unbelievable that the credit card companies did not think about all the people that would have to evetually file bankruptcy in record numbers…so they don’t get their money anyways! THe government needs to make it mandatory before people get credit cards that they are educated (for free) on how they are meant to be used. For the avereage person, a 10,000 balance or even 1000 balance is absolutely ridiculous when they are expected to pay it off , usually in 1 month, before the next bill is due and finance charges are applied! You don’t do it “right” and your credit score suffers! Well what the?!?! And how ludacris is that we haevt o PAY for our Credit Score when every thing we do is based on it. That should be something provided to us at all times, FOR FREE. It practically decides our lives! The upper class and uber-wealthy are the only ones who can drop that much money onto a card at one time! There needs to be a movement created that starts in highschool with money management, banking and credit cards. Educated our children so they are not to make the same mistakes we did!

  25. Staci: Seriously? Even if the government had the means, why should they pay off your mortgage and/or credit card debt? You (and I and everyone else) willingly borrowed that money, and should rightfully pay it back.

  26. Anonymous

    Staci,

    What a stupid comment. The government doesn’t have the power to get Americans out of debt. They don’t even have the power to get themselves out of debt. The national debt is swelling and there’s no plan in sight on how to pay it off.

    Who do you think is going to be the person to lend the federal government some money in order to get you out of debt? Who would be stupid enough to do that? Nobody.

  27. Anonymous

    Everbody knows the stimulus check was done for political purposes only. That’s why the amount was only large enough to pay on all our bills not pay them off. The government has the power and the means to actually get each and every one of Americans out of debt and on our feet. Hey I would accept just send the money to my mortgage company pay off our home for us, or send it to the credit companies and relinquish Americans credit card debt. (YEAH RIGHT) Helping the economy is about bringing us out and up. Would you begin saving a starving puppy by giving them crumbs?

  28. Anonymous

    i hope that we will get another stimulus check. i have
    worked all my life and now that i am unable to work
    due to health problems, i would welcome the help.
    the poor deserve to be helped more than anyone else.
    the elderly need help and they sure don’t get enough
    to live on. so why not give a second round to the
    needy. i went to walmart oneday and a elderly woman
    in her 80’s with tears in her eyes told me that she was
    gonna stack up on the necessaties that she needed
    and couldn’t always buy.
    for once let stop thinking about yourselves and think
    on the poor.

  29. Anonymous

    I would like to say that the goverment needs to quit helping the rich get richer and the poor get poorer. I think if they are going to give a second stimulas check, veterans and people on social security deserve it to…..

  30. Anonymous

    I think this article was interresting however I think that if congress wanted to stimulate the economy they should have sent the round of checks in time for the Christmas Holidays. I believe it would have benefited more so families would not have to debate between buying gifts or buying gas. This is just my thought I know that what I think does not matter.

  31. Anonymous

    I think the idea of another stimulus check is a GREAT idea!! I am single working 30 hours a week, can’t find another job, cuz there isn’t any. I used the $600 i got in may to catch up on my electric bill and gas bill, and the rest went into the economy!! Since then i’ve seen the price of gas lower and think that the economy needs another jolt like this, but better this time!! Like 2500 for single and 5000 for the married!! Let’s see what that will do….I bet we will see lots of decreases in prices!!

  32. Anonymous

    I for one do believe that another stimulus check is nothing but wonderful for my family. We are a single income family, raising a seven year old child. Although my husband of ten years makes a decent living, we still struggle. Prices on everything is outrageous. For the first time ever, I am worried about this winter, and especially Christmas for my child. We have started stockpiling dry goods and canned food, as well as stocking two chest freezers with meats. I am positive we are not the only Americans doing this. My whole side of my family is because all is uncertain. Whether or not another check payment is politacally driven, or not, I say give the American people more help because we need it. The last check was good for us, we paid some bills and went on a small vacation. Plus, I think increasing the amounts that we would recieve would be great. We plan on using it wisely.

  33. Anonymous

    I know that for a person like me that was a single mom with 2 kids and that works my butt off, it really helped. I do not live off the welfare system and I work to provide for my family, but at 10 dollars an hour,and the way EVERYTHING is going up in price..it isnt nearly enough. And find another job you say?…Good luck there, jobs are laying off around here not hiring. So this last check did help me to catch up on bills and to have a bit to get my kids clothes and do something for them that I can not do on a normal basis. To all of you that make a descent earning and live in your fancy houses and drive your hummers like gas is just pennies a gallon and shop at high class stores, I guess you wouldn’t understand where us that barely make enough to pay the bills are comming from. ANd when your nose is that high in the air, i guess you cant see what is going on down here with us “little” people!

  34. Anonymous

    i think another Econmic Stimulus Rebate check is a great idea.the first one ready helped out a lot of people.includeing myself.I know the Mr.Barack Obama is going to make one of the best President we have had in many years. Go Obama / Concetta Lombardi

  35. Anonymous

    There are alot of people who work there asses off out here who need help . Putting alittle in there pocket by cutting payroll taxes will not help them . Give them a check that amounts to something so they can pay something off, so they will have alittle more money for other bills . The working class citizen is use to being in debt, thats been the way of life for us since time . But like idiots 6 years ago we bought stuff used are freakin cards and got ourselves in a hell of a mess thanks to our wonder leaders who led us down bankrupt hill . This is not our fault its theirs , so let them get us out they helped get us in it.

  36. Anonymous

    I heard from another source, vamp the package up to a sensible level…$2500 for single taxpayers, $5000 for married couples, and $600 for each exemption. You want the economy to come back to life, give it a reason for a comeback. God Bless America!!!

  37. Anonymous

    Does anyone else wonder why it is so critically important to explore outer space and be part of a space station and spend billions of dollars on equipment, fuel and materials, (that we are not able to reclaim and recycle by the way), to do so? How about exploring our oceans for renewable resources, drilling for oil right here or in Alaska, investing in solar energy, wind power, and water power, spending money to research and build cars that do not run on petrolium products.

    I am not fond of the government having borrowed large sums of money and thinking about doing so again in hopes that we will buy a wide screen TV or other totally unnecessary item. I, and most people I talked to, paid bills accrued over the winter from EXCESSIVE oil and gas prices with mine.

    I am also not in favor of the governmet borrowing more money, that we taxpayers have no say in but will be required to pay back for them, just so they “appear” to be concerned about us. Liars! They’ve got us right where they want us. Hampsters running on their wheel so they can do as they wish not as we need.

  38. Anonymous

    There’s nothing wrong with getting more of my tax money refunded. However, the rapidly increasing national debt is troublesome.

    It’s morally wrong to have an unbalanced budget. The generations before me have had the benefit of all that government spending, but yet are going to stick me with the debt and no benefit.

    Let this be a lesson, do not vote for any politician that is in favor of increasing that national debt….or you could and then just stick it to the generation after you.

  39. Anonymous

    Even if this does get passed I read it wouldn’t happen until up to spring of next year. There are both pros and cons to another stimulus check.

  40. Anonymous

    I feel if they will send another stimulus check, let them. School is right around the corner. Some people like me middle class don’t have enough money for uniforms and school supplies, and most important enough money for gas. LET IT HAPPEN CERTAIN PEOPLE NEED IT!!!!!!!!!!!!!!!!!!!!!!!!

  41. Anonymous

    I would rather have all the money go towards infrastructure than get a few hundred again. Here’s why- roads, bridges, dams, etc all seem to be in terrible repair and I have seen multiple reports where these types of structures have 30 year life expectations. Most were dealt with back with the CCC, then in the Eisenhower years- and have sat since. Getting the engineers, road crews, carpenters, etc needed for this huge project would move money all over the place- but the government seems so afraid of becoming “socialist” by having all these jobs generated. It seems to me a better thing than having to just plain give out the money with no real return on investment.

  42. Anonymous

    NCN: First, inherit a bunch of cash. You could stop here. Or you could invest in tax-exempt securities. Waa-lah, lots of income, no tax paid.

    You could also invest in taxable securities and more ordinary things and avoid that annoying 15.3% tax that teachers, janitors and the like have to pay.

  43. Anonymous

    I’m not a fan of a second round of economic stimulus checks, and wasn’t particularly happy with the first (and the wasteful notices that were mailed out twice letting us know the checks were coming). However, with an election right around the corner I wouldn’t be surprised to see another announcement pushed through the House.

  44. Anonymous

    I think sinking tons of money into alternative energy projects like Dams or Wind projects makes the most sense. It will give the United States as a whole an economic advantage in the long term. That’s much better than helping the average American take a summer vacation.

  45. Anonymous

    NCN – Consider the dynamic effects of tax cuts. When taxes are cut, do unskilled workers keep more of their money or less of their money? Remember, think dynamically, not statically. I’m not sure how much more tax cutting I can afford!

  46. Anonymous

    The only thing I could think of when reading that was, “Man, they used the word legislation way too much in that last quote…”

    I completely forgot about the whole bit on tax rebates until I got to reading comments.

  47. Anonymous

    I agree with NCN. I for one am sick of them spending my taxpayer money to give rebates to others. I am even more sick of total waste of money sending all the letters. How is spending 50-something million just to tell people “you may get a rebate” is helping the poor? I understand that for the government 50-something milllion is pocket change, but if so, maybe they should just give it to us. 50 million here, 50 milllion there, and all this wasted money adds up. Just like Starbucks on a much smaller scale. Not to mention how many trees they killed just to print these letters. Sure helps the environment.

    Yes, and recent earnings from Google, eBay, Yahoo, American Express, etc., sure showed how much the previous rebates stimulated the economy. NOT.

    NCN – you are right, what you say makes way too much sense.

  48. Anonymous

    @ Andy Umm… the tax cuts would help everyone keep more of what they make, including those you mentioned… and, how do you make tons of money without earning it? perhaps you meant that they HAVE lots of money, but they didn’t earn it?
    why should we have to wait for the govt to dole out checks? it’s our money… silly really

  49. Anonymous

    Why don’t they simply cut taxes, instead of sending out these stimulus checks? Fewer letters for them to mail, less headache…
    Oh, yeah, that makes to much sense…
    What was I thinking?
    And, if you cut taxes, you only reward folks who actually earn money and contribute to the economy… 🙂
    NCN

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