I would advocate for not increasing Public payrolls (except where there are clear deficiencies, and with broadly re-negotiated compensation and benefits) but I would advocate for private sector investment and very targeted infrastructure investment.

Private sector tax credits for increasing employment, maybe revisiting the 50 employee headcount for mandatory benefits, and incentivizing employee education and training- are good counter-cyclical investments without long-term commitments.

Infrastructure (targeted) is unique in potential. Maintenance schedules can be advanced and idle equipment and labor employed with zero fear of crowding out. The cost of borrowing is low now and all indications are that we may be in for a Japanese ZLB time frame.

The larger problems related to demographic shifts require significant policy reform, seemingly politically impossible when applied near term to seniors, but more possible when applied to future seniors so this should be written in now for implementation later... and immigration reform. It is absurd to turn away educated foreign nationals who can grow GDP.

The purpose of credit is to transfer capital to more productive use, it is difficult to imagine a less productive use than US 10yrs at 1.7%.