Now's the Time For a Stimulus…

摘要

As the economy comes to terms with the attacks and the end of the boom, let's accelerate the tax cut. The case for an "economic stimulus" is that our present predicament is unprecedented. We are reacting to both the largest terrorist attack in U.S. history and the aftermath of the biggest economic boom in U.S. history. American spirits and spending may (or may not) revive quickly. We don't know. Before the attacks, business investment and exports were declining while growth in consumer spending and housing was weakening. The economy was at a standstill-or in recession. Prospects are now worse. In late September initial weekly unemployment claims hit 450,000, the highest since 1992. If the government doesn't give the economy a shove, it's not clear what will.