A new New Deal

July 15, 2009

The possible need for a second economic stimulus seems to be on everyone’s mind these days, but skeptics worry about the possible cost given that the country’s budget deficit is already at a record. On this week’s edition of MacroScope TV, Randall Wray, professor of economics at the University of Missouri, Kansas City, and Lawrence Mishel, president of the Economic Policy Institute, argued that the cost of inaction could be even higher — an anemic recovery with no end in sight for the labor market’s troubles.

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