Feb 6, 2009

Mark Zandi on the need for economic stimulus

Businesses are panicked and fighting for survival and slashing their payrolls. I think we’re trapped in a very adverse, self-reinforcing cycle. The downturn is intensifying, and likely to intensify further unless policy makers respond aggressively.

~ Mark Zandi, chief economist at Moody’s Economy.com, "Economy Shed 598,000 Jobs in January," The New York Times, February 6, 2009

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