Ben Bernanke, chairman of the Federal Reserve, endorsed plans for a second economic stimulus package, during his testimony in a House Budget Committee Hearing yesterday morning. It has been predicted that such legislation will be worked out by Congress during the upcoming lame duck session and will include provisions for infrastructure repair, unemployment insurance, additional funding for food stamps, and a potential tax rebate plan.
Chairman Bernanke recommended that Congress should not only use this potential legislative measure to boost consumer spending, but also to increase accessibility to credit lines. In doing so, Bernanke believes a second stimulus plan will promote job creation and economic growth.
Today's edition of the Washington Post reports on this crucial matter.