No new stimulus planned: US official

AFP
Thursday, July 9, 2009

A US administration official told lawmakers Wednesday there is no effort underway to launch a new economic stimulus, quashing speculation that had been growing in recent days.

“No one in the administration is talking about a second stimulus at this point,” Rob Nabors, the deputy director of the Office of Management and Budget, told a House of Representatives hearing.

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“What we are focused on right now is implementing the Recovery Act that Congress has already passed, and doing the best that we can with the dollars that you’ve entrusted us with. So, that’s what our focus is right now.”

The comments came a day after a top economic adviser to Obama, Laura Tyson, said in Singapore that the United States may need a second stimulus package focused on infrastructure projects to put the world’s richest economy firmly on the path to recovery.

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