Fix

The American Prospect: The Recovery Plan America Needs by Robert Kuttner

The Senate late Thursday afternoon passed a stimulus bill...

The bill that passed the House weighs in at just 1 percent of the gross domestic product, in a year when joblessness is rising fast and Americans are projected to lose $2.2 trillion dollars of the value of their homes...

But this is no ordinary cyclical recession. Rather, it is a sharp and needless economic contraction, caused by a serious blow to the financial system, which was in turn the result of deregulation. Banks' balance sheets have taken a huge hit from the spillover of the sub-prime disaster, and credit remains scarce and expensive even after several rate cuts by the Federal Reserve.

Worse, this downturn comes on top of three decades of stagnant or declining real living standards for about two thirds of Americans, and increasing insecurity of employment, health insurance, and retirement, as well as rising costs of housing, education, and energy. So instead of a modest stimulus package, we need a major recovery program...:

-Stronger Anti-Recession Medicine.

-Fix the Housing Mess.

-Change the Trajectory of Jobs, Income, and Economic Security.

You can listen to Kuttner on Democracy Now. He appeared on the show Friday the 8th.

Examining Clinton & Obama’s Stances on the Subprime Mortgage Crisis, Universal Healthcare, Privatizing Social Security and Nuclear Energy