Economy

The Pitch for a Second Recovery Bill

This chart might be the best pitch for more jobs-oriented spending:

job_losses_recession2.jpg

I still believe healthcare reform with the public option will create a pile of new jobs.

But here's the decision the president will have to make regarding unemployment. Does he continue to let the recovery happen steadily on its present course and risk losing everything because of continued long-term (but slowing) unemployment? Or does he push for a second recovery bill that would surely create more jobs, while also begging a negative reaction from the wingnuts (Tyranny!) and deficit hawks (Generational theft!)?

I would take my chances with option number two.

Reich and Krugman are naturally pushing for number two as well.