Obama Mulls Stimulus ‘Extension’

President Obama and his economic advisors want another stimulus program, but because the last one was so unsuccessful and unpopular, they are claiming it is merely an “extension” of the first program, instead of a “second” stimulus:

President Obama’s economic team discussed a wide range of ideas at a meeting on Monday, following his Saturday radio address in which he said it would “explore additional options to promote job creation.” But officials emphasized that a decision was still far off and that in any event the effort would not add up to a second economic stimulus package, only an extension of the first.

The story continues:

The unemployment and health benefits are otherwise due to expire at the end of this year, and the homebuyer’s credit at the end of November. Extending the unemployment and health benefits alone through next year could cost up to $100 billion. Additional measures would raise the price at a time when the White House and Congress are confronting growing pressure to avoid adding to already high deficits.

Read the full story here. For more information on the failures of the stimulus program, click here.

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