We are facing the possibility of not a "jobless" recovery but a "JOB LOSS" recovery. Possibly a new normal for low economic growth and high structural unemployment. But policy makers in Washington, particularly in the White House, are silent on what to do about this state of economic purgatory. And it could be that they decided that nothing needs to be done or nothing politically can be done. Both are big mistakes.
Steve Benen at washingtonmonthly.com picks up something Matt Stoller found:
House Minority Leader John Boehner (R-Ohio) has made clear he's against the idea of a government rescue package in response to the financial crisis, but he's apparently having trouble finding economists who agree.
So, as Matt Stoller discovered, Boehner has gone online looking for help. This plea was published this week on Boehner's website.
Attention Economists: Are You A Stimulus Spending Skeptic?
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