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August 08, 2002

Letting the Bad Times Roll

When recession hits, wouldn't it be smart to have policies that automatically put money into consumer hands to help the economy recover?

Well, we actually used to have such policies-- it was called unemployment insurance, welfare and other programs that automatically directed income to those in need during recessions. Now as this piece points out, far more unemployed don't qualify for unemployment and "welfare reform" means that increased poor no longer automatically increases government spending on aid to the poor.

If Enron and WorldCom were the result of policy deregulation, the continuing recession may also be due to this budget deregulation.

Posted by Nathan at August 8, 2002 08:27 AM

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