The stimulus has so far failed to live up the Obama administration’s promises. That’s not up for debate; they promised that the stimulus package would cap unemployment at 8 percent for June, and unemployment reached 9.5 percent.
The question that raises is whether those numbers indicate that the stimulus was a failure, and should be cancelled, or that the stimulus was too small, and we need another stimulus on top of the $787 billiion already slated to be spent.
But they’re debating over whether to have a second stimulus. Before we as a country sign up for another round of debt and big government, I think that we should at least frame the debate correctly. It would be a third stimulus. The recession began at the end of 2007, and George W. Bush’s stimulus was passed in February of 2008.