Round Two

" I'm giving folks a tax cut the Obama team has been pushing for this second economic stimulus package something the president. Appears to oppose so where does this idea ago and now joining me now teachers -- times. Scott Gary serves on both the house financial services and the budget committees congressman great to see it. Dorgan author of eight the University of Michigan economists studied for stimulus package they concluded it didn't work. People were mostly not spending it as proposed but saving. Their money -- what about the its second stimulus package that would be different three things job creation. Extended to food stamps and unemployment benefits would that -- do any good."

" Probably not been for the same reasons that the first stimulus was not a it was a failure that is where -- getting the money from your just taking it out of the private sector system and putting into the public sector. I think you're very optimistic about our new president. And all the things that he campaigned on and what he wants to bring to Washington in first and foremost about that is his change. And I think the Washington needs change -- and really for going to change Cindy you don't go back to the old system which is stimulus fact is spending more money via the Democrats gave us that things -- at 700 billion dollar deficit that we're in in the 110 congress sure so he really wants to give us change which is why people elected them. Then let's go in a new direction and let's not go back to the failed policies of the past."

" Well and you're not -- ranger because there are a whole host of economists who think that yet another stimulus package is a bad idea here's one of them said university Mississippi's a senior fellow. The Independent institute. I'll quote him here the private economy produces thirteen trillion dollars worth of goods and services -- 150 billion is merely chump change it cannot have any long lasting effect on economic growth there any other aspect of our crisis the economy -- right about."

" That absolutely if you look at some of the charts and on I don't little charts here with me but I had a little charts I didn't say that when the last stimulus went through there was a little -- a little tiny. This uptick in of the what third quarter of the year when people began to get those. Stimulus checks went out started buying things a lot of that money went into savings accounts that didn't help her pay off last old bills that and help. In the same things really going to happen no matter how you read culture how you change the terminology in this -- he said job creation what is that they're talking about putting money into infrastructure. Over you know we know the facts and our infrastructure works we'll pass the bill tomorrow and then a year or two from now those dollars will actually get out the door and start going into projects."

" So you can't see any men during the new deal it actually -- history will reflect it actually was counterproductive taking jobs away from the private sector. But look Ben Bernanke has said I'll sign onto a stimulus deal on one condition there but a lot of it is directed to the credit markets to give. Improve credit to borrowers from homeowners businesses and so forth what do you think of that."

" But since that's interesting idea about it that would run counter to what we're hearing coming out from the democrats' side of the -- that is to take money out of the marketplace. Take out of you know what that the bank threatening right now is liquidity in the market place is taking money out of it. Making the cost of borrowing even higher than you -- your local small business that wants to expand -- once -- more jobs and that sort of thing he's going to have a harder time doing if you go the tried and true method that we've seen in -- couple years. So Bernanke might be on the right track here although I would give this caveat to it. From that once again -- put more money into that. We may see as your prior stories says just come when -- life must continue to stop pouring more money to the system. President Scott Garrett is always good shape I can appreciate it -- you with a."