re: “If only the government would spend more money in the short run to augment demand from the private sector, we could fully recover.”
And just how much money would that have to be?? I mean after spending how many trillions of dollars on bail-outs, stimulus 1, 2, and how many? I’ve lost count. After all that and we are still struggling?
Maybe we should try something else. What’s the saying, “if you keep doing the same thing over and over and you keep getting the same results - failure - to keep on doing it not a strategy it’s insanity.
Their answer - not one I agree with, BTW = is that the stimulus injections have always been too little, too late. IOW, it's never been done right.
Much like the (accurate) claim that Communism has never been done right.
The issue they never address is whether it is possible to do either right.