Experts weigh in: Can the economy be saved?

[ProSense]

Op-Ed

Experts weigh in: Can the economy be saved?

Los Angeles Times Staff Writer

November 14, 2010

It has been more than two years since the financial and economic crash of 2008. Since then, many things have improved, and the U.S. economy is officially out of recession. But many Americans are still hurting. Unemployment remains high, and the housing market is far from settled. We invited economists and other astute financial observers from across the political spectrum to suggest what, if anything, the government should do to stimulate the economy.

Stimulus: neither needed nor free
By John H. Cochrane

Should the government do more to "stimulate" the economy? No.

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Federal spending is a necessity
By Joseph Stiglitz

The only solution to our current economic doldrums is large government spending. And if the spending is focused on high-return investments (in education, technology and infrastructure), the nation's debt-to-GDP ratio will actually be lowered. The question isn't whether we can afford to make these investments; we can't afford not to.

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Tax rebates will help fill the malls
By Brad Schiller

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To create jobs, end the tax cuts
By Alicia H. Munnell

A lot of attention lately has been focused on whether to extend the Bush-era tax cuts for everyone, or whether to eliminate them for the wealthiest taxpayers. In fact, they should be allowed to lapse -- and not just for the rich. Tax cuts for the middle class should expire too.

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Large deficits remain essential
By Robert Pollin

The federal government must continue to aggressively fight the recession created by Wall Street hyper-speculation and promote recovery through both spending measures and credit market interventions.

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Uncertainty is killing confidence
By Ayse Imrohoroglu

The best way to stimulate the economy is to decrease the uncertainty that government policies have created for businesses.

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Don't subsidize reserves; tax them
By Bruce Bartlett

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Nail down some deficit remedies
By Mark Zandi

more

So many opinions.

[dtotire]

1. Stiglitz makes the most sense n/t