World War II-style deficit spending was needed to get the unemployment rate down from 10% to 3%, suggesting to me at least that a truly effective fiscal boost capable of doing half that would have to be a quarter to a third of large. And we are not there: we are far from there:
![](http://1.bp.blogspot.com/_gaFhYbVjqsc/SkPmP5PwU-I/AAAAAAAAARM/Ebdj6FiPNVM/s400/20090625-d363s96t66qux4ap4tk38prb5b.png)
...Uh, WWII has been mentioned here before. -- Bill
No comments:
Post a Comment