{"id":2248,"date":"2011-10-26T14:56:33","date_gmt":"2011-10-26T18:56:33","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=2248"},"modified":"2011-10-26T15:03:34","modified_gmt":"2011-10-26T19:03:34","slug":"galbraith-short-term-stimulus-not-good-enough","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/galbraith-short-term-stimulus-not-good-enough\/","title":{"rendered":"Galbraith:  Short-Term Stimulus Not Good Enough"},"content":{"rendered":"<p>James Galbraith, <a href=\"http:\/\/finance.yahoo.com\/blogs\/daily-ticker\/u-debt-not-europe-time-spend-way-recovery-125624442.html\">interviewed<\/a> by Henry Blodget, suggests that more &#8220;stimulus,&#8221; if this means a program that will run out in a couple of years, is not sufficient.\u00a0 What we need, he insists, is something more like a &#8220;strategic plan&#8221; for the next 10-15 years, investing in growth and dealing with problems like energy, climate change, and infrastructure (and that laying this groundwork would ultimately shore up private sector confidence).\u00a0 Galbraith is also careful to distinguish between concerns about private and public debt:\u00a0 while private, household debt has been a problem for the US, he argues, the public debt is sustainable and should not be a concern.\u00a0 His closing line is worth repeating:\u00a0 &#8220;We&#8217;re a big country.\u00a0 We can finance our own reconstruction if we choose to do so.&#8221;<\/p>\n<div><object width=\"432\" height=\"243\" classid=\"clsid:d27cdb6e-ae6d-11cf-96b8-444553540000\" codebase=\"http:\/\/download.macromedia.com\/pub\/shockwave\/cabs\/flash\/swflash.cab#version=6,0,40,0\"><param name=\"flashVars\" value=\"vid=27057059&amp;browseCarouselUI=hide&amp;\" \/><param name=\"allowfullscreen\" value=\"true\" \/><param name=\"wmode\" value=\"transparent\" \/><param name=\"src\" value=\"http:\/\/d.yimg.com\/nl\/techticker\/site\/player.swf\" \/><param name=\"flashvars\" value=\"vid=27057059&amp;browseCarouselUI=hide&amp;\" \/><\/object><\/div>\n","protected":false},"excerpt":{"rendered":"<p>James Galbraith, interviewed by Henry Blodget, suggests that more &#8220;stimulus,&#8221; if this means a program that will run out in a couple of years, is not sufficient.\u00a0 What we need, he insists, is something more like a &#8220;strategic plan&#8221; for the next 10-15 years, investing in growth and dealing with problems like energy, climate change, [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,49],"tags":[],"class_list":["post-2248","post","type-post","status-publish","format-standard","hentry","category-economic-policy","category-fiscal-policy"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=2248"}],"version-history":[{"count":9,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2248\/revisions"}],"predecessor-version":[{"id":2254,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/2248\/revisions\/2254"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=2248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=2248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=2248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}