Is a new economic package under consideration?

[jefferson_dem]

Here's the report from the WSJ - http://online.wsj.com/article/SB10001424052748704421104575464012356644550.html?mod=e2tw

A NEW ECONOMIC PACKAGE?.... I've had a few posts lately, suggesting the White House would be wise to push a new economic package with an emphasis on job creation. With the recovery stalling, hoping that the status quo will improve just isn't enough. There's public demand for more government intervention, and it'd be good policy and good politics to act quickly.

For all the evidence that the administration isn't inclined to push a new economic package, the Wall Street Journal reports today that a proposal may be considered after all.

The Obama administration is considering a range of new measures to boost economic growth, including tax cuts and a new nationwide infrastructure program, according to people familiar with the discussions.

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It's hard to assess the merits of such a plan without more details, and it's probably premature to consider what kind of resistance this would face in Congress. Indeed, the WSJ is the only outlet reporting that such a proposal is even a possibility.

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So, if the WSJ article is a trial balloon or part of a fight for leverage, let me take a side: yes, do something. A new package with tax breaks and infrastructure would probably less effective than spending alone, but craft a package that stands a chance of passing quickly.

http://www.washingtonmonthly.com/archives/individual/2010_09/025477.php