Clip File: The Case for No Stimulus

There are a large number of politicians in Washington who are pushing a brilliant policy that will have the effect of leaving millions of people unemployed or underemployed for years into the future. Their policy is called "no stimulus."

The idea is that we just let the recession brought on by the housing crash run its course, being careful to do nothing further to boost the economy. According to most projections, after 4 or 5 years the economy will be back on track, with the unemployment rate approaching the pre-recession levels. In the meantime - the rest of 2009, all of 2010, 2011, 2012, and probably much of 2013 and maybe even some of 2014 - millions of people who otherwise would be working, will be unemployed or will only be able to find part-time employment, even though they want full time jobs.
Well, you get the point. The rest of the story:
The Case for No Stimulus by Dean Baker (The Independent 2009-08-11)

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