| Paul Krugman gets shrill about the economy in the near run, noting that jobs reports are showing very, very quick rises in unemployment.
The second problem he notes is that infrastructure spending will take time to phase up as a lot of infrastructure we could put money into isn't really ready to move yet. Infrastructure -- highways, bridges, rail lines, power lines, etc. -- takes some thought to do properly.
Atrios says that means all the more reason to quickly up aid to state and local governments, plus transit agencies.
Cutting those checks can do a lot to keep public sector layoffs from adding to private sector layoffs. Plus states may be able to start more infrastructure projects with an influx of money.
Second -- now would be a smart time, as councilman Jason Wiener already noted in Missoula, for municipalities and states to start budgeting and preparing infrastructure projects that could be funded and revved up quickly to infuse some money into the economy.
There's a free screening tomorrow night in Missoula of I.O.U.S.A. -- 7pm at the Wilma -- which I've heard is a very eye-opening look at the fiscal situation our country faces. There are some decent arguments to be made about our country's fiscal realities. But right now is no time to be penny wise and pound foolish. |
