Argument: US stimulus must be passed immediately to avoid greater crisis
"The US needs its stimulus now". Financial Times (Editorial). February 1, 2009 - "With the US economy shrinking at an accelerating rate, the case for a strong fiscal stimulus should be uncontroversial. Yet last week the House of Representatives passed its version of the measure sought by the Obama administration without a shred of Republican support. The Democratic majority in the Senate, which now takes up the legislation, is too small to assure passage without Republican votes. The bill can and should be improved – and some of the most needed changes might be to Republicans’ taste – but the greatest need is speed. [...] Even with prompt passage of the measure, according to the Congressional Budget Office, much less than $200bn of the $819bn in the plan would take effect in the remaining eight months of this fiscal year, which is when the stimulus is most needed. Delay in passing the bill beyond the middle of next month would be a grave setback. It is incumbent on Senate Republicans, especially, to avoid this."
Barack Obama. "We Can't Afford to Wait". February 9, 2009 - "I can tell you with complete confidence that endless delay or paralysis in Washington in the face of this crisis will bring only deepening disaster. [...] We've had a good debate. Now it's time to act. That's why I am calling on Congress to pass this bill immediately. Folks here in Elkhart and across America need help right now, and they can't afford to keep on waiting for folks in Washington to get this done."