The point of monetary deployment should be balance sheet repair. Only when people's balance sheet's are repaired can normal spending resume and the layoffs sto

The point of monetary deployment should be balance sheet repair. Only when people's balance sheet's are repaired can normal spending resume and the layoffs stop. The point of an intervention now should not be to get the unemployment rate back down to 4%, but to prevent it from going to 15%. Therefore, the thing to do is to repair balance sheets by printing money. If you only give money to people repairing roads then consumer spending still drops off a cliff, and millions of people still lose their jobs.