![]() ![]() At CEA he helped to formulate policies addressing the 2000-2001 recession and the aftermath of the terrorist attacks of September 11. During 2001-2002, he was the Chief Economist of the President’s Council of Economic Advisers (CEA). Holtz-Eakin served in a variety of influential policy positions. “This has not been a bail out but a genuinely well-targeted attempt to preserve the cash flow needs of the private sector.”ĭouglas Holtz-Eakin is the President and founder of the American Action Forum (AFF). To get our economies moving again Main Street, not Wall Street, should be the focus of the COVID-19 economic response. The result, just like in 2008-2009, will be soaring economic inequality and a stalled economic recovery that further concentrates economic power in the hands of big business and the 1%. Critics charge that we are repeating the mistakes of the Great Financial Crisis by once again bailing out big business on the backs of taxpayers. Large corporations, and the financial markets they rely on, support tens of millions of jobs and are the key to any economic recovery. Supporters of these measures believe they are vital to preventing a severe recession from turning into a Great Depression. The US stimulus package includes trillions of dollars of liquidity for financial markets, the direct purchase of billions in corporate debt by central banks, and billions more in low interest loans and wage supports for big businesses. To address the devastating economic impacts of COVID-19, Western governments have unleashed an unprecedented wave of monetary and fiscal stimulus. Lines at food banks that echo the Great Depression.
0 Comments
Leave a Reply. |