The middle class needs a bailout for the same reason the banks needed a bailout–long-term systemic risk. If the (much smaller) government during the Great Depression could hire 4 million people in 4 months, why can we not do that today, now, immediately during the Great Recession?
Like the as-yet to be incurred, but already embedded, long-term costs of the Iraq War, the psychological and career trauma inflicted by prolonged unemployment are yet to be felt. But, they are real, they are profound, and they are increasing every day.
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