Tyson suggests second stimulus

An economic adviser to President Obama suggested today that the U.S. might need a second stimulus package, Bloomberg reports.

In a speech in Singaore today, Laura Tyson, a member of President Obama’s Economic Recovery Advisory Board and the head of the Council of Economic Advisers under Bill Clinton, said the $787 billion stimulus was “a bit too small,” and while it will help, “the real economy is a sicker patient.”

Tyson seemed to echo Joe Biden’s recent remarks that the administraiton had “misread” how bad the economy was.

“The economy is worse than we forecast on which the stimulus program was based,” said Tyson. “We probably have already 2.5 million more job losses than anticipated.”

Tyson emphasized that she was not speaking for the administration. Obama, Biden and other officials have called it premature to consider a second stimulus.