November 18, 2008

Leading Economists to Call for Broad and Comprehensive Recovery Package to Get Nation's Economy Moving Forward Again

FOR IMMEDIATE RELEASE: Nov. 18, 2008    
David Elliot, USAction, 202.263.4567 (office), 202.607.7036 (cell)
Alan Barber, Center for Economic and Policy Research, 202.293.5380 x115 (office), 202.486.6180 (cell)

WASHINGTON, D.C. – Several of the nation’s leading economists will speak Wednesday in favor of immediate passage of a significant and broad-based economic recovery package in order to prevent what the experts call a possible “large increase in unemployment and a sharp decline in GDP.”

The economists will release a letter, signed by Nobel Laureates Joseph Stiglitz and Robert Solow and more than 300 of their colleagues from 36 states, urging Congress to take immediate, decisive action. The economists will participate in a telephone press conference at 10:30 a.m. Wednesday, Nov. 19.

WHAT: Telephone press conference calling for immediate passage of comprehensive economic recovery legislation.

WHEN: 10:30 a.m. Wednesday, Nov. 19.

WHO: Alan Charney, Program Director, USAction (moderator)
Dean Baker, Co-Director, Center for Economic and Policy Research
Eileen Appelbaum, Director, Center for Women and Work, Rutgers University
Lawrence Mishel, President, Economic Policy Institute

While Congress debates whether to pass an economic recovery package and what it should include, the economists on Wednesday’s call will press for a package that is appropriate to the size of the economic downturn. Such a package should be in the range of $300 million to $400 million and should be geared toward targets that inject capital into the nation’s economic system immediately.