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Economy Reeling, Markets Retreat -- CAP's Tyson on CNBC

http://www.americanprogressaction.org/issues/2008/stimulus.html Our country faces a likely serious and possibly devastating economic downturn. Policymakers must act to stem the severity to the extent they can. Failure to come together to act quickly means that the economic pain will be broader and deeper than otherwise would be the case. Average American workers, who failed to benefit from economic growth in this last business cycle, will be amongst the hardest hit. And, if Washington cannot now take measures to address the short-term weaknesses in the economy, then the first years of the next Administration will be consumed by that challenge—leaving little capacity for progress on health care, the transformation to a low-carbon economy, and creating the conditions for long-term growth and economic opportunity. Center for American Progress Senior Fellow Dr Laura Tyson joined CNBC to talk about the economy & a needed stimulus. www.AMERICANPROGRESS.org
Length: 04:55

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