Tuesday, July 20, 2010
24 More Economists Back Daily Beast Manifesto
24 More Economists Back Daily Beast Manifesto for New Stimulus, Tax Cuts
As the Senate appears ready to finally pass an extension of unemployment benefits, two dozen more economists, including two Nobel Prize winners, have joined the call for a fresh round of stimulus and tax cuts, swelling the total number of leading economic thinkers signing the manifesto on The Daily Beast to 40. Yes, deficits are a huge long-term problem, but lawmakers can't ignore the urgent need to get Americans back to work now. Exports will continue to be weak as the Japanese and European economics suffer, and demand suffers when millions have no purchasing power because they've lost their jobs. The economy needs a stimulus - and the biggest problem with the stimulus passed last year is that it was too small. Unemployment insurance must be extended, and cities and states need aid so they don't have to fire teachers and firefighters. Balanced budgets are an important long-term goal. But Congress can't let the economy crash in the short term for the sake of it.
Read it at The Daily Beast
tax and spend