The New Republic: "Let's Be Honest: We're in a Depression, Not a Recession"

thenewrepublic:

“What can be done now? Probably nothing. Anything that involves spending, such as a new stimulus program, would come too late to be effective… At a 7 percent annual growth rate, our public debt in 2012, estimated at $12.4 trillion, will grow by 40 percent in five years if none of the reforms…

8 months ago  Notes (12)
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  3. scottbittle reblogged this from thenewrepublic and added:
    try anything. But threading...recession at hand and...debt...
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