What is to be done?

Those of us who are unimpressed with the effectiveness of using debt-financed government spending as a cure for the current state we're in are often asked, OK, so what should we do instead? Would I do nothing for the people who are unemployed?

In January of 2009, I suggested this plan for recovery. I like to think it would have done a better job than what we actually did, but there's no way of knowing. I think it's better than anything on the table now. But suppose it's not. Suppose it's...