[burnblue]

His argument doesn't make sense. Personal savings don't get reinvested in capital equipment, corporate savings do. Corporate savings are being spent on all-time record CEO paychecks. Companies aren't investing in capital equipment because there is no demand. People are saving, not spending, because there is no safety net and now they have no ballooning home value to buoy their consumer habits. No spending = no economic recovery. A strong safety net won't solve everything, but in this case Greenspun seems to have things exactly backwards.