Schumer urges a second economic stimulus

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New York’s senior senator thinks the latest round of bad economic news helps make the case for enactment of a second economic stimulus package.

The Bureau of Labor Statistics reported today that consumer prices rose 0.8 percent in July and 5.6 percent over the last 12 months. Real weekly earnings also fell last month by 0.8 percent.

On an inflation adjusted basis, workers are earning 3.1 percent less than they did a year ago.

“If this administration were competing in the ‘bad economic policy’ Olympics, they’d receive four gold medals today,” stated Sen. Chuck Schumer, D-N.Y. “Inflation jumped for the third straight month, weekly paychecks are smaller, more workers are filing jobless claims, and home foreclosures continue to put more families on the economic edge.

“It is long past time for this administration to help families and workers compete in a stagnating economic environment — economic stimulus should be at the top of the agenda before this administration throws in the towel.”

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  1. the consultant on

    Schumer is a pandering jackass…giving money away did not
    help and will not help what ails this economy….the American people borrowed their way into so much debt that
    they ultimately had to pay back and couldn’t..this kind
    of credit bubble has burst and the way to fix it is to allow
    the financial institutions to regain their footing…any
    money given away to individuals will be totally wasted.
    banks now have to have real standards for lending…
    which makes sure that no further decline in the housing market takes place…consumers have to change their energy
    habits to stop the 750 billion dollar a year transfer
    of wealth to the OPEC nations…and people have to start
    living within their means even if it means smaller
    homes, less expensive cars, and no starbucks…
    when that happens and the consumers have their
    head screwed on straight the economy will start to
    grow again

  2. I am glad that Schumer is findly on board. He agrees that when you put more money in peoples pochet they are better off. What he should propose and.do is a tax cap across the board. When you take less of people’s money the economy will do better.

  3. Jiminy Cricket on

    Wasn’t Schumer a regular on Hee-Haw? The jackass?

    This guy holds a press conference every Sunday because it is a slow news day. The media laughs at him but still gives him coverage. I think he has announced 12,423 pieces of legislation he was going to introduce. Nothing ever happens.

    He is dead wrong on another stimulus, but he is a pandering jackass, so you get what you get with him. And what you get is a pandering, braying jackass.

  4. the consultant on

    chuck schumer ought to wake up…inflation is now a staggering 5.5%…instead of giving money away, the fed
    should be putting the breakes on..raise interest rates
    by .50 basis points before we have the same kind of stagfaltion that we had under carter…no growth and
    runaway inflation…

  5. Schumer is findly on board. He will put money in my pochet. I hupe he has my currect adres.

  6. Jim Kelly - NY Conservative Campaigns on

    Schumer is a Jerk! Known him for years from my days living in Brooklyn. (9th CD)

    Schumer is now running for another term for the US Senate. (For the life of me I can’t believe this guy made it this far)

    Anyway, Schumer is pulling a former Schumer tactic for re-election. That is, he has the safe numbers in Downstate, now he spends much, much time in the last few weeks running around in Lake Placid, Adirondacks and out in Buffalo in Western New York (Saving the Buffalo Bills from leaving us)

    Schumer will do anything but anything to make the papers, even the most foolish things will come out of his mouth just to make the papers. The “Sunday Morning Comic for the Monday Morning Press”

  7. with all due respect to the senator = there seems to be more important economic decisions to make than a silly stimulus package !

  8. the consultant on

    Mr Curses…an economic stimulus package only works if
    the money is used to buy things the consumer would not
    have otherwise bought…in this instance consumers are
    in tremendous debt so they are using the money to
    pay off past purchases..or they are using it
    to offset the increase in gasoline prices..so there
    is no real stimuli. THe federal reserve needs to
    raise interest rates to tighten up so that inflation
    does not take even more purchasing power away..
    the sooner that happens the sooner oil and gas
    prices will come down further and the sooner the housing
    market will stablize

  9. The Voice of the Majority on

    I am glad to see YOU inmates ain’t running the prison. The right-wing wack-a-doos would call any idea SOCIALIST that would help the Average Joe.

    And to Mr. Zyskander Jaimot…. The REPUBLIKANS would stick to it anyone as long as they could benefit their cronies in Big Oil, Big Insurance, Big Pharmaceuticals, Big Defense. They play in their elite country clubs, have the assurance of golden parachutes when they fail, and more corporate welfare and largess from the Feds whenever they need a bailout (see Bear Stearns).

    “Ha” back atcha!