Tom Usher wrote or added | "The bottom line? When Wall Street is hurting, money's never a problem. But when the states are on the brink of default and 14 million workers are scrimping to feed their families, there's not a dime to be found. Explain that to your kids."
Mike Whitney is mainstream Keynesian in many respects, but he did call the downturn almost on cue and very early on. I watched it all unfold and was in near full agreement with him. He's still largely right, although I don't agree with his avoidance of "socialism" and "communism" out right. I don't mean Marxism, per se, as most of those who regularly read me will know.
Anyway, this is a good overview of the current situation.
"Jobs, jobs, jobs" are critical. I am all for public-sector jobs doing what Mike suggests in his article. I would make those jobs permanent, and I would train the people to keep them current on new, clean, sustainable energy and all the other things we need to bring forth.
My theology goes way into all of this such that the "state" wouldn't even be recognizable in terms of the monster we see today, but you'll have to read the details on the Real Liberal Christian Church website: http://www.realliberalchristianchurch.org/