Credit: We're moving past the denial stage
The government, however, has plenty to spend. The trick is using that ammunition effectively while reforming.
Greg Ip wrote on Friday about the options.
"To maximize benefits and minimize costs, fiscal stimulus should directly address supply-side constraints on economic growth and not be permanent. This points to investment in public infrastructure," he wrote in the WSJ.
The problem he notes is that the timing isn't right at the moment because unemployment is falling and growth is ok. What he argues for is laying the groundwork for quick approvals when the inevitable downturn hits.
I wrote more about the 'acceptance' phase of the New Normal on Thursday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
