Only By Doing More of the Same Can We Hope for Something Different

Steve Green writes, “Here’s the sage advice Meyerson is handing out in the Washington Post” for the president:

Mr. President, it’s time to go big on the economic solutions. It’s time to propose a massive second stimulus, offset by some serious tax hikes and budget cuts once the economy regains a semblance of good health. Republicans won’t go for it, but they don’t go for small economic solutions either, be they extensions of unemployment insurance or a miniaturized infrastructure bank. (The current level of GOP commitment to infrastructure would about cover the purchase of a Lego set.)

Economically, the case for a massive stimulus is a good deal stronger than the case for the rather minimal one that you’re calling for — extending unemployment insurance and the payroll tax cut, and establishing an infrastructure bank. A major stimulus is the only conceivable source of substantially increased economic activity and jobs for at least several years.

Steve says he’s speechless; I need a drink.

Incidentally, how major do you want your stimulus to be? Extra-Large, or Super-Sized?