House Majority Leader Steny Hoyer on Tuesday became the latest Democrat to open the door to a second stimulus package. ....Hoyer, speaking to reporters earlier Tuesday, sounded more amenable to the idea of another economic package. "I think we need to be open to whether we need additional action," Hoyer said.
While Senate Majority Leader Reid says he has no appetite for a second round of spending legislation his record would show that talk is the only thing that is cheap about his history of deficit spending.
There is little doubt that Stimulus II is in the works. Democrats have a crowded legislative calender to contend with as ObamaCare and Cap and Trade enjoy priority right now. But as unemployment worsens and GDP continues to shrink, progressives will not be able to resist another round of heavy spending.
The most interesting question is whether Republicans will offer any opposition (or even token resistance) to the Democrat's binge spending. It is looking moreso everyday that the Republican congressional leadership (pardon the oxymoron) is going to stand by and watch the place burn down. Schadenfreude can be deceptively appealing, particularly on the heels of a landslide defeat in 2008, but everyone must live with the consequences of the Democrat's fiscal craziness. Somewhere, sometime soon an opposition Party must emerge. The damage created by a second stimulus plan may be irreversible for generations.
In a search for accountability the first place to look may be among the Republican Senators that sold out on Stimulus I. Perhaps a quick litmus test of Michael Steele and Mitch McConnell's resolve would be to determine if they can control Susan Collins and Olympia Snowe. If they can't reign in those two the odds are high that a third party platform may emerge, which will mean the end of supply side policy for years.