IDEAS home Printed from https://ideas.repec.org/p/epo/papers/2008-21.html
   My bibliography  Save this paper

Slow-Motion Recession: What Congress Can Do to Help

Author

Listed:
  • Eileen Appelbaum
  • Dean Baker
  • John Schmitt

Abstract

This report presents several proposals designed to address the nation’s current economic slowdown. To blunt the effects of this downturn and provide immediate relief, the authors suggest a second stimulus package. Proposals for the package include an expanded tax credit for homes and businesses to make energy conserving renovations, subsidies for state and local governments to reduce fares on public transportation, matching grants to state and local governments to invest in energy conserving renovations, grants to state and local governments so that they will not be forced to raise taxes and/or layoff workers and cut services in the middle of a downturn, additional payments to low- and moderate-income households through programs such as Food Stamps, School Lunches and the Low Income Heating and Energy Assistance Program to make it easier for families to cope with rising food and energy prices, modernization of the unemployment insurance system and further extension of the benefit period. To promote continued, sustained growth, the paper suggests policies that will require restructuring the U.S. economy to protect homeowners, reel in financial markets, and to restore some balance to our work and family commitments.

Suggested Citation

  • Eileen Appelbaum & Dean Baker & John Schmitt, 2008. "Slow-Motion Recession: What Congress Can Do to Help," CEPR Reports and Issue Briefs 2008-21, Center for Economic and Policy Research (CEPR).
  • Handle: RePEc:epo:papers:2008-21
    as

    Download full text from publisher

    File URL: http://www.cepr.net/documents/publications/stimulus2__2008_07.pdf
    Download Restriction: no

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hye Jin Rho & Danilo Pelletiere & Dean Baker, 2008. "The Changing Prospects for Building Home Equity: An Updated Analysis of Rents and the Price of Housing in 100 Metropolitan Areas," CEPR Reports and Issue Briefs 2008-26, Center for Economic and Policy Research (CEPR).

    More about this item

    Keywords

    fiscal stimulus; economic stimulus; recession; deficit spending;

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:epo:papers:2008-21. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/ceprdus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.