Well the construction sector is nothing like half of the economy (16% of GDP, 12% of employment before the crash). Still, if you have 16% of your economy collap

Well the construction sector is nothing like half of the economy (16% of GDP, 12% of employment before the crash). Still, if you have 16% of your economy collapse, you will have severe problems. However, the reason why it collapsed is the same reason it collapsed everywhere else in Europe - there was no financing. Your point simply doesn't contradict mine, except for your assertion that the private sector is the only way out. The private sector cannot currently be the solution because the money it depends on are in banks as I pointed out before. Banks aren't lending because of the problems on their balance sheets. The government, on the other hand, can print money and is the only institution that can do so, so it is your only option. My evidence in support of what I'm arguing is Germany, whose government intervened to stimulate the economy and currently has had less of a drop in employment than the US even though its GDP fell more. Work-sharing is the most prominent, and probably most successful, program in that regard. NOTE: I'm not arguing this is sustainable forever. What I'm arguing only applies to the current situation, which is anything but normal.