Opinion | Launch a Pre-Emptive Strike Against Recession

From WSJopinion: Congress can blunt the effects of the next economic downturn by tying stimulus spending to the unemployment rate, writes jasonfurman

Several prominent Democrats including Tim Ryan, Bernie Sanders and Pete Buttigieg have pushed claims that the American worker needs multiple jobs to survive. The data disagrees. Image: GettyPresident Trump was right to set aside premature plans for fiscal stimulus last month. Based on the current economic situation, stimulus isn’t yet warranted—but it may be soon.

Given the uncertainty, Congress should pass a law immediately that would automatically trigger stimulus if the labor market deteriorates, with unemployment rising rapidly. The package should include not only tax cuts but also relief for states, as well as extra help for people most hurt by recessions. The legislation should be permanent, the measures lasting as long as needed in the next downturn and set to trigger in future ones as well.

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