Center for American Progress
Economic Snapshot for December 2009
By Christian E. Weller
Financial markets have eased, the economy is in recovery, and job losses are shrinking. Economic policy now has two challenges: ensuring strong job growth and securing durable economic growth. These goals are intertwined. Millions of Americans need to find jobs that will allow them to repay their large debts and avoid high foreclosures, credit card defaults, and bankruptcies, which in turn will boost business investment and economic growth.
The successes of past economic policies are apparent. Credit markets have substantially eased from the panic of last year, and the recession ended more quickly than would have been the case without the stimulus. Public policy interventions now need to help bring back millions of jobs and create stronger long-term growth.