Reid Dismisses Need for Another Stimulus

Posted July 7, 2009 at 2:37pm

Updated: 4:40 p.m.Senate Majority Leader Harry Reid (D-Nev.) on Tuesday ruled out the possibility of pushing a second stimulus package, instead calling for patience as money from the original measure continues to roll out.“Just over 10 percent of the stimulus money has been generated out,— Reid said of the $787 billion package signed into law in February. “We’re in the process of doing that.— “As far as I’m concerned, there’s no showing to me that another stimulus is needed,— the leader added. Republicans have criticized the first stimulus measure, saying it has been a failure. And on Tuesday, Minority Leader Mitch McConnell (R-Ky.) echoed those GOP charges in calling a second stimulus “an even worse idea than the first stimulus, which has demonstrably proven to have failed.— “We’re spending $100 million a day on interest on the first stimulus,— McConnell said. “Rush and spend is what this administration is about, rush and spend. This needs to stop for the future of our country and for our children and for our grandchildren.— But, earlier in the day, House Majority Leader Steny Hoyer (D-Md.) suggested that the nation’s 9.5 percent unemployment rate is reason to at least consider a second stimulus measure to jump-start the economy. “I think we need to be open to whether we need additional action,— Hoyer told reporters.While Reid brushed aside the need for additional stimulus measures, he did note that the chamber will consider a massive climate change bill in mid-September or early October.The House passed climate legislation by a razor-thin, 219-212 margin less than two weeks ago. The Senate is now poised to delve into the subject, with six committees having jurisdiction over it.Reid is scheduled to meet Wednesday with the chairmen of the Agriculture, Nutrition and Forestry; Commerce, Science and Transportation; Foreign Relations; Energy and Natural Resources; Environment and Public Works; and Finance committees to discuss climate change.The Energy Committee approved a clean energy bill just before the July Fourth break. Meanwhile, the Environment panel hosted four members of President Barack Obama’s Cabinet on Tuesday, each of whom called for swift Senate action on the issue.“We’re moving forward on climate change,— Reid said. “It’s more important now than ever to do a good bill.—