Given the enormous risks in the economic outlook, we asked a highly regarded macroeconomist and econometrician to present his view and survey of possible outcomes and also his policy prescriptions. He believes that serious fiscal stimulus is necessary but also finds that the resulting deficits...

In this second part of his comprehensive analysis, econometrician Allen Sinai provides an updated primer on the benefits of fiscal stimulus after a long period in which Keynesian policies have been neglected. He then analyzes the likely impact of the Obama stimulus plan along with Federal...