The terrible irony in all this? More and more people are seeing that what this agonizing situation requires is a limited and temporary measure to pump more life into the economy and create jobs, along with a serious commitment to impose real spending discipline and hold down deficits in the long term -- exactly what a five-year budget resolution could provide.
Gregg and Conrad agree that such a resolution could "unleash huge energy back into the economy," because corporations are hoarding $1.8 trillion in their treasuries and consumers are sitting on billions more.
I would have worded this differently. I would have said "We need to get our economy out of the ditch NOW and worry about deficits later." But this is a very good start and I especially appreciate Broder's pointing out the $1.8 trillion sitting around in money markets and not being put to productive use. That big bundle of money sitting around gathering dust is important because it means that givig money to already-wealthy people (i.e., "Return the Money to the People!") will do absolutely nothing but build up those idle accounts still further.
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