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View Diary: Job growth clocks in at disappointing 120,000, far below forecasts. Unemployment rate falls to 8.2% (167 comments)

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  •  True about economists. But the fact was... (6+ / 0-)

    ..that the administration economist who knew the most about deep downturns, Christina Romer, DID argue for more stimulus, $1.8 trillion. That approach never got to the president; what did was less than half that. Now, it's almost a certainty they would never have gotten that much and probably shouldn't have tried for it. But if they had shot for $1.3 trillion, they might have gotten, say, $1.1 T or $1.0 T. An improvement.

    But the real need, shoring up demand, could have been produced with a modernized WPA and CCC program of direct hiring. I've heard all the arguments against these. I don't buy them. Hardly matters. Nothing like this was proposed, not even by Romer.

    Don't tell me what you believe, show me what you do and I will tell you what you believe.

    by Meteor Blades on Fri Apr 06, 2012 at 09:49:04 AM PDT

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    •  Biggest problem of course was state (2+ / 0-)
      Recommended by:
      cpresley, Dallasdoc

      level, where Republican governors and "balanced budget" provisions in state constitutions produced an undercurrent of austerity.

      It will be interesting to see what the President considers his biggest mistakes when he writes his memoirs.

      "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

      by Geekesque on Fri Apr 06, 2012 at 10:46:17 AM PDT

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