How Much More Can Consumers Be Squeezed?

Source: Jared Bernstein, Economic Policy Institute, Testimony before the Joint Economic Committee of the United States Senate and the United States House of Representatives, July 23, 2008

In testimony this morning before Congress’s Joint Economic Committee, Jared Bernstein, a senior economist at the Economic Policy Institute, examines the array of economic forces and events that are squeezing most working Americans’ income and living standards, and suggests some policy fixes to help ease at least some of the pain. Bernstein makes a strong case for a second stimulus package, stressing state fiscal relief and public investment in needed infrastructure to help keep more Americans working and contributing to the economy through the downturn. He also advocates strengthening oversight of the financial sector to improve stability and provide long-term protection from the kinds of bubbles that have so buffeted the US economy in recent years.
See also:
How Much More Can American Families Be Squeezed By Stagnant Wages, Skyrocketing Household Costs, And Falling Home Prices? – complete hearing

Leave a Reply