Danziger pens Huffington Post op-ed on persistent effects of the Great Recession
In a Huffington Post opinion article, "Ravages of the Great Recession," Sheldon Danziger writes that Congress's dysfunction, in particular its preoccupation with slashing the federal deficit, is prolonging economic pains. Danziger cites a new study in the Annals of the American Academy of Political and Social Science which finds that, for many Americans, the impact of the recession will last through their working lives and into retirement.
In the op-ed, Danziger writes the effects of the Great Recession would have been larger without the fiscal stimulus but that, paradoxically, the policy is now often seen in a negative light. He argues that this rhetoric and the rise of "austerity politics" bears significant blame for the long recovery, stating:
"Millions of workers and families have yet to regain the ground lost over the last six years. But absent a government willing to address high unemployment and inequality of opportunity, the 'lost decade' of economic progress in the 21st century is on track to last for a second decade."
Sheldon H. Danziger is currently serving as President of the Russell Sage Foundation. He is on leave as the Henry J. Meyer Distinguished University Professor of Public Policy and Research Professor at the Population Studies Center.