This is no time to balance budgets

That ’30s Show: Paul Krugman is noting that during the depression, hints of recovery led FDR to cave to budget hawks, leading to a plunge back into depression.

"just a few weeks ago, Christina Romer, the chairwoman of the Council of Economic Advisers, published an article on the “lessons of 1937” — the year that F.D.R. gave in to the deficit and inflation hawks, with disastrous consequences both for the economy and for his political agenda."

Krugman's analysis is that we not only need to stay the course, but increase the stimulus. The math makes sense. The first stimulus saved 3.5 million jobs, but we're in an 8.5 million job hole. There's a lot of ground left to cover.