Re the Oct. 3 story September’s dismal job report: It appears that monetary policy and zero-percent interest rates gave done all they can. A government has two weapons to fight a recession and/or an economic slowdown: Monetary and fiscal policy.
Trying to fight an economic slowdown with just one weapon is like asking a fighter to enter the ring with one hand tied behind his back and expecting him to win the match. Compared to prior economic slowdowns, government spending and hiring have been dismal and in some cases has been contracting, just the opposite of what is needed to stimulate the economy.
Republicans in Congress and state legislatures have done a good job of convincing the public that austerity can stimulate growth.
Barry Rabinowitz, Plantation
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