Robert Samuelson wrongly says that most people will not be affected by a recession, claiming that only the relatively small portion of workers who lose their jobs are hurt. This is not true. Most workers will see less pay because of high unemployment.
He is right about the limited impact of proposed stimulus packages. With house prices now falling at a $2.2 trillion annual rate, the $70 billion stimulus package being put on the table will not have very much impact.
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