Democrats say another smaller bailout bill is needed, Republicans skeptical

By Rachel Gallaher
Weekend Edition Producer
Published: October 12, 2008

The state of the financial market has Americans worried for many reasons.  The top two: losing their job and debt.
   
Tennessee is looking to cut the state workforce by at least 2,000 employees.  Nevada, coping with a drop in housing values and tourism, is asking state agencies to reduce spending by 14 percent. 
 
Virginia’s Governor Tim Kaine announced he’s laying off almost 600 employees to deal with a two and half billion dollar shortfall. 

“We are not like the federal government where, when there is a big gap between revenue and expenses we just crank up the debt machine,“ said Kane. 
   
Pointing to harsh realities like these, Democratic congressional leaders are renewing the call for another economic stimulus package. 
   
Likely hauling Congress back for a vote right after the election next month.

“We have some very harsh decisions to make, some of them cannot wait until January,“ said Nancy Pelosi. 
   
A spokesman for House Speaker Nancy Pelosi says the package could cost as much as 150 billion dollars. 
   
The first stimulus package approved in February, cost 170 billion. It focused on kick starting the economy through rebate checks to consumers. 
   
Democrats say they need to do more.  The focus this time is to help struggling states and money for infrastructure like roads and bridges to spur job creation. 
   
While many Republicans have supported unemployment assistance, Republicans were largely opposed to a smaller economic aid measure Democrats pushed in September.         
   
Republican Congressman Tom Davis is skeptical of Democratic motives. 

“It’s just politics and throwing money at the problem is the way they want to do it.  If it’s so important to stimulate, and they got the plan, they ought to come forward with it now,“ said Davis.