But given the severity of the job losses that took place at the beginning of the year and the need for us to makeupa whole lot of job loss, is going to require I think some bold, innovative action on our part and on Congress's part and on the private sector's part.
It also calls for an increase in central-government handouts to rural areas, to makeup for their loss of revenue as a result of reforms intended to reduce peasants' tax burdens.
In this post-financial crisis world, the Fed has taken a Keynesian edict and turned it on its head: instead of the government stepping in after a crisis to makeup for the loss of aggregate demand from the private sector, it has fallen to central banks.