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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (126794)	12/9/2009 5:25:54 PM
From: Mary Cluney	Read Replies (2) \| Respond to of 540950

<<< Now remember that Krugman wanted one three times as big as that passed by Congress. So magnify our stimulus on the chart by three to get where Krugman wanted!>>> We caused most of this economic disaster. We suffered the most. Europe had their safety nets in place. There is far less inequality in Europe to begin with. Europeans all have safety nets that far exceed anything we have as far as : cash benefits for disability, old age, survivors, occupational injuries and diseases, sickness, families, un-employment and housing; health care; services; for the elderly and disabled; active labour-market policies; and other payments such as those to people on low income and to refugees. When you lose your job in Europe your standard of living does not go down that much. No one goes homeless. No one goes without healthcare. No ones lives are put to risk. Besides as your link suggests: It is far past time for Europe to stop letting deficit hawks dictate policy. And it is time for bodies like the G-20 to adopt remedies that match the scale of the global recession. President Obama should deliver that message when the G-20 summit convenes in London during the first week in April.

To: Steve Lokness who wrote (126794)	12/9/2009 5:33:35 PM
From: KyrosL	Read Replies (1) \| Respond to of 540950

Careful with that chart. European stimulus packages do not include automatic recession stabilizers like unemployment benefits, which in some European countries have no time limit - whereas in the US every time there is an extension of a few months, the amount gets added to the stimulus. Also, unemployment benefits in Europe for the first couple of years are a lot closer to your full salary. And, of course, health care is practically free over there. Here even the pitiful extensions of COBRA subsidies get added to the stimulus.