If one is good then two must be better. Chatter is growing in Washington about a second stimulus and whether even more spending will restore our formerly robust economy.
On Tuesday House Majority Leader Steny Hoyer said leaders should be open to the possibility of a second stimulus package to further boost the economy, which is still hemorrhaging jobs.
Hoyer told reporters although it was too early to say whether the unprecedented $787 billion spending package was working, it was essential to keep the possibility of a second stimulus on the table. "I think we need to be open to whether we need additional action," he said.
Largely driving those comments are growing unemployment figures. Last month employers shed some 467,000 jobs, which sent the unemployment rate up to 9.5 percent, the highest in nearly 26 years.
And the jobs outlook is expected to get worse in coming months, with many economists predicting it will surge past 10 percent.
Although the rate of job losses is slowing, "it's not where it ought to be," Hoyer added. Some areas of the economy are still in trouble, he said, "housing being the leading sector."
However Hoyer may be going down the wrong road.