Bill Keller wrote a compelling column in the November 28 New York Times. Here’s the gist:
“There really is a textbook way to fix our current mess. Short-term stimulus works to help an economy recover from a recession. Some kinds of stimulus pay off more quickly than others. Once the economic heart is pumping again, we need to get our deficits under control. The way to do that is a balance of spending cuts, increased tax revenues and entitlement reforms. There is room to argue about the proportions and the timing, but the basic formula is not only common sense, it is mainstream economic science, tested many times in the real world.”
His question: “So what’s the problem? Why is our system so fundamentally stuck?”
To read his answer, click on column.
*Thanks to Jim Morin, my favorite editorial cartoonist.