Robert B. Reich, a co-founder of The American Prospect, is a Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley. His website can be found here and his blog can be found here.
Recently I was putting gas in my car, minding my own business, enjoying my solitude there by the gas pump, when the gas pump suddenly comes alive with a commercial -- right there, on a little liquid-crystal screen mounted on the pump. There's nothing I can do about it. I'm in the middle of filling my tank with gas. I'm a captive audience to a loud talking head who s hawking a product at me.
We're not in a war economy yet. We're in an economy that's just plain
sinking. What to do? Federal Reserve Chairman Alan Greenspan has told Congress to
"wait and see" what happens before enacting a stimulus package lest it create
inflationary fantasies among traders of long-term bonds. In an extraordinary show
of newly bipartisan gutlessness, our representatives in Washington are heeding
his advice. Congress shouldn't listen to Greenspan. A stimulus is needed right