Tuesday, December 15, 2009


Capuano gets it. People don't want "tax credits" and "incentives" and "increasing willingness to lend" they want... money and jobs.

And, who knows, maybe I'm just overly pessimistic. Maybe job market will recover more quickly than I expect, but even so the speed of job growth necessary to get us even close to "acceptable" levels of unemployment is absurdly high and we're unlikely to get anywhere near that absent high and sustained direct demand stimulus.