Tuesday, June 16, 2009

Recovery a project for the long haul

According to a leading economic forecast (reported here in the Fresno Bee), economic recovery in the Central Valley will not be an easy — or fast — proposition. It could take years to reach the highs we hit before the housing market collapsed and the economy as a whole was dragged down with it.

I'm not surprised, but it's worth keeping this timetable in mind when plotting ways to reinvigorate the economy.

Concerted efforts — such as Tracy's stimulus plan — could help stanch losses and stabilize local economies (and even give them a leg-up on less fortunate neighbors). And the federal plan should yield positive results in infrastructure and education. But it'll be a while before the overall sea level surges.

So don't buy the claims of some that a turnaround is within easy reach, if only we'd subsidize more residential construction.

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