Bring on QE3! “We Can’t Afford NOT to Do More,” Romer Says

Kick the can down the road to live another day or face the economic consequences here and now? The choice will be made to kick the can down the road when cries of “save me” intensify as an election year approaches. The only unknown is whether the decision will be made during a backdrop of calm or panic. Either way, Americans face a sharp reduction in the general standard of living as a consequence of the brewing debt crisis. This is ensured regardless of the political choices and/or rhetoric.

Headline: Bring on QE3! “We Can’t Afford NOT to Do More,” Romer Says

Frustrated by "the suffering of real families," President Obama's former top economic adviser recently called for action: "If I have a complaint about policy these days, it's that we're not doing enough," Christina Romer said in a speech last month at Vanderbilt University. "I think there are tools we have tools we have that we can use, and I think it's shameful that we're not using them." (See: Former White House Economist Blasts Inaction On Jobs)

With unemployment still near 9% and the "real" unemployment rate at 15.7%, "we can't afford not to do more," Romer tells me in the accompanying video. "For heaven's sake with this many people unemployed — think of what it's doing to government revenues and support payments. If all you're worried about is the budget deficit, it's really important" to put people back to work.

Source: finance.yahoo.com