Economist James Galbraith (son of exalted leftist economist and my personal idol John Kenneth Galbraith) has a piece in this month’s Mother Jones about how to conduct an economic recovery beyond the stimulus. Krugman has made this basic point as well, the economic problems America is enduring are not a result of consumer under-confidence or banks without enough money. Our financial system is broken, we need more than just a jolt to wake it up again, we need a reconstruction. This graph from Galbraith’s piece details how we should do this most effectively:

Somethings work, others really dont

It’s clear that some things (food stamps, infastructure) work and others (fucking tax cuts) don’t. It’s not ideological, they just don’t work. I’m already sick of the new administration intentionally making things worse than they have to be to get along with political enemies. To quote the immortal words of Toby Ziegler, “They’ll like us when we win.”

Advertisements