The Free Press, Mankato, MN

Your View

January 20, 2013

Your View: Another stimulus will bring full employment

Louis Schwartzkopf, Mankato

The biggest economic problem the U.S. currently faces is the depressed state of the economy and high unemployment, not government spending and debt. The cause of the depressed economy is lack of demand.

To fix it, the government should spend an additional $300 billion of stimulus in each of the next two years. The stimulus money could be used to re-hire the teachers laid off since 2008, and for infrastructure projects such as repairing roads and rebuilding areas devastated by natural disasters. If the federal government did this, the U.S. would be well on its way to full employment in two years.

Debt can be a problem, but only in the long run, not the short run. The economies of other developed countries have sustained much higher ratios of debt to GDP without ill effect. Once the economy picks up and more people are employed, revenues will increase. Then is the time to tackle the debt problem, when the full-employment economic engine is running again.

This is what Dr. Paul Krugman, professor of economics at Princeton University, author of an economics textbook, and winner of a Nobel prize in economics for his research, says in his book, “End This Depression Now!” I find it astonishing that the House Republicans refuse even to consider the ideas not only of Dr. Krugman but also of other well-respected mainstream economists.

In addition, they threaten to renege on the payment of debts that the federal government has already incurred, a threat which if implemented would result in increased misery for millions of U.S. citizens. How can they possibly have the best interests of their constituents at heart?

Text Only | Photo Reprints
Your View
  • Local water decisions were foolish

    May 24, 2013

  • mfp jentgesmug Many counter-argue global warming

    Like Leigh Pomeroy (Act now on Earth Day, April 27) I try to do what I can as an individual to protect the environment, and encourage others to do likewise.

    May 22, 2013 1 Photo

  • mfp maertens mug Republicans natter about 'I' word

    Mitt Romney first politicized the Sept. 11 terrorist attack on the U.S. Consulate in Benghazi, Libya, only hours after the event, by claiming the president sympathized with terrorists

    May 22, 2013 1 Photo

  • mfp yezzimug ACA benefits ignored by writer

    Bob Jentges’ May 8 My View strikes me as being like a football coach trying to frighten players into quitting when the game has barely begun. His wholly negative piece reads like a catalog of scare tactics.

    May 21, 2013 1 Photo

  • Apology in abuse case was not accepted

    I am the mother of the victim in the Miguel Beltran child abuse case. I would like to clarify one thing in regards to the recent article that was printed.

    May 21, 2013

  • Highway cleanup crews priceless at 100 degrees As I was driving home from work in the late afternoon on the first 100 degree spring day, I saw, proudly wearing their bright, neon green safety vests and picking up garbage in the ditches, were the Adopt a Highway volunteer crews. When I honked my h

    May 19, 2013

  • mfp dekruifmug DFL budget leaves out reform The 2013 Minnesota Legislature started facing a projected budget shortfall of $635 million and by state mandate must balance the budget. The new DFL controlled government has a "fix" for this shortfall; raising taxes and fees for all Minnesotans by a

    May 18, 2013 1 Photo

  • Bell of Honor sign of respect for heroes Recently, I had the opportunity to go to the North Mankato Funeral Home for David Sandmeyer's military visitation. It was a very moving experience. Sandmeyer was the young man who was a 21-year-old Marine from Mankato. He was stationed in North Carol

    May 18, 2013

  • MSU falls while coach Hoffner will win again Attention MSU Alumni You and I have just learned of the decision that the Minnesota State University leadership, i.e. Dr. Davenport, Mr. Kevin Buisman (and probably others) have made concerning Todd Hoffner, the former MSU Football Coach. This firing

    May 17, 2013

  • Minnesota deserves lawmakers with a clue Our senators, Amy Klobuchar and Al Franken were part of a group to vote for and pass Obamacare. You know the overwhelming law that the Democratic leadership (Reid and Pelosi) said you'll have to pass it to find out what's in it. Exactly what they did

    May 17, 2013