People with illnesses take drastic measures to save their lives, and their families encourage and support them through the fight. In the same way, businesses and individuals of all political parties need to call on our elected representatives to lay out a treatment plan that touches every part of our economy.
Today, there is so much public infrastructure in disarray, such a crying need to move the nation to a sustainable energy path, and so great a need for the jobs that could be created by large-scale public investments that more stimulus spending should be a no-brainer. But this alternative is not even being seriously debated. Rather Democratic paths to deficit reduction are jousting with Republican paths. So here is Ben Bernanke -- a Republican, first appointed by George W. Bush, a huge admirer of Milton Friedman -- saying what no other Republican and too few Democrats are willing to say: The problem is not the deficit, but the risk that Congress will overreact to the deficit.