The U.S. economy. was supposed to improve by late Spring, it has not yet moved fast enough to improve employment. Housing $s continue to fall faster than in our Great Depression; where demand is concerned, there’s little, with Europe debt + Japan’s tragedy + China’s tightening, all reducing demand. The Fed stimulus has run its course and starved states continue to cut. Democrats act as though they are not in power, while Republicans hope the economy rots until election day! Does Washington think it’s on another planet? For 2 years I’ve been wanting U.S. govt. to employ unemployed in public projects.
I can’t believe this has not been done, even though we know Franklin Delano Roosevelt did just that quite successfully in the ’30s.
Go read the original from Reich’s conclusions. His bottom line is that the prospects for sensible policy seems to diminish daily.