Wednesday, February 17, 2010

On the road to economic recovery

Dean Baker
The reality is that we got into this mess because of an overwhelming excess of greed and stupidity on the part of the Wall Street bankers and the people deciding economic policy. We continue to face excessive rates of unemployment because of a continuing reluctance to pursue policies that can restore the economy to health.
Very briefly, one of these policies is more government spending to create jobs. The government can employ people directly; it can give companies incentives to employ people, and it can give tax cuts that give people more money to spend. Mix and match in large enough quantities and we will get the unemployment rate down to more acceptable levels.

Director. Center for Economic and Policy Research. 
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