Jonathan Cohn: So there you have it. The ideal jobs package would inject hundreds of billions of dollars into the economy as quickly as possible – but in a way that paid for itself over the long run and, ideally, diminished automatically once a strong recovery is under way. The administration could do a portion of this on its own, whether by using Fannie Mae to help distressed homeowners or getting China to help U.S. exports by revaluing its currency. The Fed could obviously lend a hand, maybe a big hand, as well. But to meet these criteria, Congress would have to take some action.
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