“We need aggressive action from the Federal Reserve, and a new round of stimulus from Congress.”
According to The Daily Beast, Washington needs to take a clue from the abysmal numbers in the recent jobs report and pump out some more money to save the economy. Only then can mass unemployment be fixed.
The Beast’s biggest complaint is, of course, Republicans – they have those rotten ideas like that America has too many unskilled laborers who are poorly educated and can’t get jobs. Or the truly maniacal suggestions of cutting taxes and bridling minimum wage increases – helping small businesses have enough leftover to actually hire employees.
Yes, the real problem of unemployment, according to the Beast, is lack of demand. And in order to increase demand, it suggests aggressive government intervention.
Indeed, to end mass unemployment and chronic joblessness, we need to focus on the underlying problem: Our demand shortfall. And to do that, we need aggressive action from the Federal Reserve, and a new round of stimulus from Congress.
Because that worked so well the first time.
