Economy in peril no reason to stoop to politics of fear

摘要

The scariest part of the economic crisis is the US government's wild resort to the politics of fear. A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future, declared President Barack Obama on February 4. Of course the economy needs stimulus. Of course the government has a role. Yet it's painfully clear that the government has no clue about what that role should be. Economic peril warrants urgency. But panic makes serious problems, including sloppy governance, worse.