Quote:
Originally Posted by tw
And that type of recession is the third type - a type directly traceable to massive economic mismanagement. Other type recessions are not as severe and not as long.
Historically, jobs do not start coming back until quarters after the recession has ended. Jobs are a lagging indicator. And lost due to massive fiscal mismsanagement typically four and more years earlier.
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I dont disagree.
We are a long, long way from full employment....and that will take significant economic restructuring.
And IMO, that has to include, in part, govt investments in emerging industries/technologies. At the same time, there can some deficit reduction with freezes or cuts on some discretionary programs AND allowing the temporary 01 and 03 tax cuts on the top bracket to expire, returning to the pre-2000 rate....a rate which certainly did not stifle economic development.