Monday, November 30, 2009

Paul Krugman Belching His Usual Sunshine

Krugman's latest column focuses on (surprise surprise) the need for a jobs bill. (See Drezner's Krugman Crib Sheet here.) Food stamp quote:

[T]he damage from sustained high unemployment will last much longer. The long-term unemployed can lose their skills, and even when the economy recovers they tend to have difficulty finding a job, because they’re regarded as poor risks by potential employers. Meanwhile, students who graduate into a poor labor market start their careers at a huge disadvantage — and pay a price in lower earnings for their whole working lives. Failure to act on unemployment isn’t just cruel, it’s short-sighted.

So it’s time for an emergency jobs program.

That student part especially makes me feel really good.

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