Sometimes I just like to let the experts have a say on how the Obama administration should handle this economic crisis.
Step 1: Give money to states to prevent severe cutbacks in state spending. Otherwise, any federal stimulus package is being offset by "50 Herbert Hoovers."
Step 2: Focus on government spending, rather than tax cuts or private spending. Individuals are particularly likely in a recession to either save or pay down credit, which has no stimulus effect. But every dollar of government spending is a dollar of economic stimulus.
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