During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections.

During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections. At the same time, increased unemployment causes spending on safety-net programs to rise. In response to these situations, government appears to have only two options (neither good) to stabilize the national economy: … Read more