first, but some of the extensions. so, people have less money to spend, and they don t spend it and the recession gets worse. i believe that is why the first package of the stimulus package prevented a worse and a deeper recession although it wasn t perfectly designed to do that. what do you believe? i agree. i think that s that large and immediate cut in spending certain kinds of spending or more stimulant than others. it s quite interesting to me that we have delayed extending unemployment insurance. we know again on the employment insurance and a healthy economy could convince workers not to take jobs but in this kind of economy the unemployment is hard to make that case, and the money is a very powerful stimulus for safe food stamps and other things. and i find that really puzzling that some economists will say well, any talk of the tax increases anywhere at any time has a terrible depressive affect but cutting spending right now is perfectly fine. that flies in the
CSPAN2 U September 20, 2011
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