More Stimulus Needed For Jobs Crisis

Larry Summers makes the case for stimulus spending.  But it must be careful stimulus spending.  Now is the time to make investments in infrastructure.  Labor costs and borrowing costs are low.   

the fiscal debate needs to take on board the reality that the greatest threat to the nation's creditworthiness is a sustained period of slow growth that, as in southern Europe, causes debt-GDP ratios to soar. This means that essential discussions about medium-term measures to restrain spending and raise revenues need to be coupled with a focus on near-term growth.