One and a Half Dip Recession

“We’re not in a double-dip recession yet. We’re in a one and a half dip recession.” Robert Reich says the President should advocate a WPA-style public works program. “The 1.5 dip recession should be causing alarm bells to ring all over official Washington. It should cause deficit hawks to stop squawking about future debt, blue-dog Democrats to stop acting like Republicans, and mainstream Democrats to get some backbone. The 1.5 dip recession should cause the President to demand a large-scale national jobs program including a new WPA that gets millions of Americans back to work even if government has to pay their wages directly.”