We Are Going to Need a Bigger Stimulus
Fourth quarter of 2008 GDP 1.55% below the third quarter level--and an equal decline now forecast for the first quarter.
Paul Krugman says:
Yikes. And if the data on new unemployment claims are any indication (which they are), the economy is continuing to plunge at least as fast.
As Brad DeLong says, I think we’re going to need a bigger stimulus.
