Jon Stewart talks to Austan Goolsbee, Chief Economist for President Obama’s Economic Recovery Board:
“when you’re looking in the face of the next great depression, that’s not the time to tighten the belt”
Now, I’m not as optimisitc as Goolsbee about the long-term outlook but thank goodness the governments of the major countries didn’t go down the slash and pray path we have here.
When we come out of this recession, it will be purely because we have free-ridden on the back of the expense other countries went to in an effort to head-off disaster.
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