Further on Blanchflower and DeLong: Gotta do more spending.

The only sure-fire way to get jobs back is for them (Guhment) to do more deficit spending. After all, consumers are still in no mood to spend, businesses won’t invest without consumers to buy the fruits of such investments, and exports are still in the tank. Government remains the purchaser of last resort. (And for those of you still unconvinced, focus on the ratio of debt to GDP, and know that it won’t improve until the denominator of that equation — the GDP — starts growing quickly again, which won’t happen until there’s sufficient overall demand.)

--- Robert Reich 1/20