We are now in midst of spending the money of the second stimulus spending package to revive the ailing economy. The first stimulus enacted in early 2008 under President Bush called for government checks to be issued in the amount of $152B. Now, Laura Tyson, former head of President Clinton's economic team is calling for a new stimulus package. The first stimulus did not accomplish its mission, and so far, the $787B stimulus biggest effect is growing government, not the economy. Can a third stimulus correct the deficiencies of the two stimuli already enacted?The first stimulus to counter the slowing economy was enacted in early 2008 allowing for $152B in tax ‘rebates' to low income and no income tax payers. This stimulus has proven ineffective, as the recipients of these checks chose to either pay down debt or save the money. These payments created no increase in GDP. As the US and world economies are based 70% on consumer spending, any stimulus must get consumers spending....(Read Full Post)