I'm no economist, but when Marty Feldstein and Larry Summers both agree that the coming recession is likely to be more severe than most...
I post this mostly to ask a question for readers to answer.
Why doesn't the White House acknowledge the seriousness of what virtually everyone seems to see except for them? (A speech in NYC doesn't cut it.) Do they not want to talk down the economy? (Isn't it already down?) Do they not want to make things more difficult for John McCain in the fall? (But wouldn't a feckless White House response do that anyway?)
When the rebate checks hit mailboxes and people discover that they'll be good for paying the difference between what gas costs now and what gas will cost this summer, what then?
When will the Democratic presidential candidates begin to acknowledge that the economic conditions may well delay universal health care and all of their other spending projects?
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