The Fiscal Times: Andrew Fieldhouse- 'Forget Spending Cuts, the U.S. Economy Really Needs a $2 Trillion Stimulus'

Source:The Fiscal Times- Money, money, money, that is never free when it comes from government.

"More than five years after the start of the Great Recession in December 2007, the U.S. economy is still mired in a depressed state of output, and economic growth has decelerated below rates needed to bring us out of this slump. But our current macroeconomic policy — driven entirely by a contractionary fiscal approach — is poised to further slow near-term growth and delay recovery. What is needed at the moment is renewed pursuit of an expansionary fiscal policy in order to restore full economic health. The signs calling for additional targeted stimulus and cautioning against austerity are all there, if only policymakers would recognize them." 

Read the rest at The Fiscal Times

The economic situation today is better, but the fiscal situation is much worse with an additional five- trillion-dollars added to the national debt. Even though budget deficit has falling which is good news. But we still have around eight percent unemployment, an economy thats not growing, but plenty of work that could be done around the country right now, we just need someone to prioritize that work because the private sector is not going to do it by themselves. 

We don't need the Federal Government to rebuild the country, but what we need it to do is making the rebuilding a priority and at least help finance this effort and we need not a 1-2T$ stimulus package, but we need a 1-2T$ investment package and put a lot of that money in infrastructure investment and tell our construction and manufacturing industries we have a lot of work for you to do. And bring in the states and locals and private sector even with something like a National Infrastructure Bank.

We need to bring in the states and locals and get their input on what need to be built and repaired, that benefits the economy and puts people back to work and start awarding around 1-2T$ in contracts to do. This work which would also be boom for our manufacturing industry because of the parts that are going to be needed to do the work. And we need to encourage American as well as foreign companies to invest in this country and bring that money here. 

And that means lowering our business taxes and making us more competitive and we need to pay for this package over a 5-10 year period. And we could do this by closing wasteful tax loopholes and raising taxes on gas and oil and so- forth. And not hurt the economy and we could put millions of Americans back to work.