a retort to a reply i posted. Lets start with facts; The nature of America’s troubles is easy to state. We're in the aftermath of a severe financial crisis, which has led to mass job destruction. The only thing that's keeping us from sliding into a second Great Depression is deficit spending. And right now we need more of that deficit spending because millions of American lives are being blighted by high Unemployment, and the government should be doing everything it can to bring unemployment down.
How can this apparent conflict between short run needs and long run responsibilities be resolved? Intellectually, it's not hard at all. We should combine actions that create jobs now with other actions that will reduce deficits later. And economic officials in the Obama administration understand that logic; for the past year they have been very clear that their vision involves combining fiscal stimulus to help the economy now with health care reform to help the budget later.
The sad truth, however, is that our political system doesn't seem capable of doing what's necessary.
On jobs, it's now clear that the Obama stimulus wasn't nearly big enough. No need now to resolve the question of whether the administration should or could have sought a bigger package early last year. Either way, the point is that the boost from the stimulus will start to fade out in around six months, yet we're still facing years of mass unemployment. The latest projections from the Congressional Budget Office say that the average unemployment rate next year will be only slightly lower than the current, disastrous, 10 percent. Yet there is little sentiment in Congress for any major new Job Creation Efforts.
So we're paralyzed in the face of mass unemployment and out of control health care costs. Don't blame Mr. Obama. There’s only so much one man can do, even if he sits in the White House. Blame our political culture instead, a culture that rewards hypocrisy and irresponsibility rather than serious efforts to solve America's problems. And blame the filibuster, under which 41 senators can make the country ungovernable, if they choose and they have so chosen. (paul krugman)
To answer your question, Now is the time for Government to step in and do the right thing, create Jobs...
http://krugmanonline.com/