Lessons of the Great Recession show what happens when economic stimulus is cut too soon.

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Friend,

As the U.S. Senate continues to mull the next federal COVID-19 aid package, debating how much and what types of aid to provide to working people and communities in need, it's important to remember what happened when Congress failed to effectively follow up on stimulus packages enacted in the wake of the Great Recession.

After the economy cratered in 2007, Congress enacted an effective economic stimulus plan, but ultimately undercut economic progress in the U.S. by forcing austerity budgets.

Take a look at the EPI chart below ([link removed]) and how a decrease in government spending resulted in the lowest GDP in more than 65 years. Then share it on Facebook and Twitter.
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The austerity budgets forced upon our country by congressional Republicans hampered the nation's recovery in the years following the Great Recession.

This should serve as a cautionary tale as Congress, once again, is faced with making decisions about the next wave of pandemic relief to lift up working people and help our economy recover.

Together, we’re fighting for a pandemic response that meets the urgency of the moment. We must learn from Congress’ past mistakes and demand a pandemic relief bill that puts working people and communities first.

Thank you for all you do to fight for an economy that works for all us, not just the wealthy few.

Eve Tahmincioglu
Director of Communications, Economic Policy Institute

P.S. If you value EPI’s critical research, please consider a donation today. Thank you! ([link removed])
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