Source: Global Insight, January 2009
The U.S. economy enters 2009 in crisis. The financial system meltdown of last Fall is unresolved. The economy is now in a deep recession, with all industries and regions suffering. A new administration is taking office with the promise of shoring up our economy, and is poised to propose unprecedented initiatives to do so. In this report we examine the state and fate of metro economies as we begin 2009, and discuss factors policy makers should consider as recovery plans relate to metro economies. We conclude that the Recovery and Reinvestment plan can best achieve its goal of jump-starting the economy and setting the stage for strong future economic expansion by explicitly targeting metro areas.