For those who don't think the situation is serious; for those who think we have time to quibble over 1% of the current stimulus package proposal in Congress and hold up the other 99%; for Republicans who simply don't get that SPENDING = ECONOMIC STIMULUS and tax cuts don't ...
"This chart compares the job loss so far in this recession to job losses in the 1990-1991 recession and the 2001 recession – showing how dramatic and unprecedented the job loss over the last 13 months has been. Over the last 13 months, our economy has lost a total of 3.6 million jobs – and continuing job losses in the next few months are predicted."... read the rest on The Gavel after the click.
A big part of the current crisis is that no one is buying anything. There is supply but there is no demand. Tax cuts do not stimulate anyone to buy anything. They are aimed at people who tend to be well off and they can afford to salt the proceeds away ... that is, not spend them. Government spending on unemployment benefits, food stamps and other similar programs puts money in the hand of people who have no money. What do you imagine those people will do when they get a little cash? Hint: They'll spend it!
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