How to avoid stumbling into our own lost decade
Perhaps the US’ most fundamental strength is its resilience. We averted Depression in 2008/2009 by acting decisively. Now we can avert a lost decade by recognising economic reality.
The Larry Summers money shot:
Without the payroll tax cuts and unemployment insurance negotiated by the president and Congress last fall we might well be looking today at the possibility of a double dip. Substantial withdrawal of fiscal support for demand at the end of 2011 would be premature. Fiscal support should be continued and indeed expanded by providing the payroll tax cut to employers as well as employees. Raising the share of the payroll tax cut from 2 percent to 3 percent would be desirable as well.
IOW, "we must use any opportunity we can create and maintain to KILL SS!"
Fuck Larry Summers and the ass he rode in on.
haha... I'm not sure that's not a laugh of mania or despair... both?
Also see, The Hill's, Congress blog.... Starving the poor to balance the budget is wrong