The_AT Recession_NN1 America_NP1 Needed_VVD Will_VM we_PPIS2 remember_VVI the_AT economic_JJ lessons_NN2 we_PPIS2 've_VH0 learned_VVN over_II the_AT last_MD year_NNT1 ?_? 
"_" It_PPH1 is_VBZ probably_RR well_JJ that_CST we_PPIS2 had_VHD the_AT war_NN1 when_CS we_PPIS2 did_VDD ._. 
We_PPIS2 are_VBR better_JJR off_RP now_RT than_CSN we_PPIS2 would_VM have_VHI been_VBN without_IW it_PPH1 ,_, and_CC have_VH0 made_VVN more_RGR rapid_JJ progress_NN1 than_CSN we_PPIS2 otherwise_RR should_VM have_VHI made_VVN ._. "_" 
--_JJ Ulysses_NP1 S._NP1 Grant_NP1 ,_, writing_VVG about_II the_AT Civil_JJ War_NN1 in_II his_APPGE "_" Personal_JJ Memoirs_NN2 "_" ,_, 1885_MC ._. 
The_AT human_JJ toll_NN1 of_IO the_AT recession_NN1 ,_, reported_VVD to_TO be_VBI the_AT worst_JJT economic_JJ downturn_NN1 since_CS the_AT 1930s_MC2 ,_, has_VHZ been_VBN so_RG searing_JJ that_CST it_PPH1 could_VM be_VBI considered_VVN cruel_JJ to_TO evaluate_VVI this_DD1 event_NN1 for_IF any_DD benefits_NN2 ._. 
More_DAR than_CSN six_MC million_NNO people_NN have_VH0 lost_VVN their_APPGE jobs_NN2 since_CS this_DD1 financial_JJ catastrophe_NN1 began_VVD and_CC ,_, according_II21 to_II22 The_AT New_NP1 York_NP1 Times_NNT2 ,_, well_RR over_II one_MC1 million_NNO of_IO those_DD2 will_VM lose_VVI their_APPGE unemployment_NN1 insurance_NN1 benefits_NN2 between_II now_RT and_CC the_AT end_NN1 of_IO the_AT year_NNT1 ._. 
Many_DA2 economists_NN2 believe_VV0 ,_, or_CC at_RR21 least_RR22 want_VV0 to_TO believe_VVI ,_, that_DD1 GDP_NN1 will_VM begin_VVI to_II stage_NN1 a_AT1 modest_JJ recovery_NN1 near_II the_AT end_NN1 of_IO this_DD1 year_NNT1 ._. 
The_AT second_MD quarter_NN1 contraction_NN1 of_IO the_AT economy_NN1 was_VBDZ only_RR 1%_NNU ._. 
Recent_JJ figures_NN2 on_II housing_NN1 ,_, both_RR from_II private_JJ sector_NN1 sources_NN2 and_CC from_II the_AT government_NN1 ,_, have_VH0 led_VVN some_DD analysts_NN2 to_II the_AT conclusion_NN1 that_CST both_DB2 the_AT pace_NN1 of_IO home_NN1 sales_NN and_CC the_AT value_NN1 of_IO real_JJ estate_NN1 will_VM begin_VVI to_TO rise_VVI in_II 2010_MC ._. 
All_DB of_IO this_DD1 potential_JJ recovery_NN1 takes_VVZ place_NN1 in_II the_AT shadow_NN1 of_IO a_AT1 national_JJ debt_NN1 that_CST ,_, according_II21 to_II22 the_AT CBO_NN1 ,_, could_VM rise_VVI an_AT1 average_NN1 of_IO $1_NNU trillion_NNO a_AT1 year_NNT1 for_IF the_AT next_MD decade_NNT1 ._. 
The_AT Heritage_NN1 Foundation_NN1 expects_VVZ that_CST the_AT national_JJ debt_NN1 will_VM be_VBI $12.5_NNU trillion_NNO ten_MC years_NNT2 from_II now_RT using_VVG inflation_NN1 adjusted_VVN dollars_NNU2 ._. 
This_DD1 number_NN1 means_VVZ that_CST the_AT debt_NN1 would_VM be_VBI 67%_NNU of_IO GDP_NN1 ._. 
The_AT organization_NN1 's_GE numbers_NN2 could_VM be_VBI off_RP by_II a_AT1 significant_JJ amount_NN1 because_CS they_PPHS2 are_VBR thought_VVN to_TO be_VBI somewhat_RR pessimistic_JJ ,_, but_CCB even_RR a_AT1 more_RGR sanguine_JJ view_NN1 is_VBZ likely_JJ to_TO yield_VVI the_AT conclusion_NN1 that_CST the_AT deficit_NN1 and_CC the_AT interest_NN1 that_CST will_VM have_VHI to_TO be_VBI paid_VVN on_II it_PPH1 are_VBR beyond_II the_AT economy_NN1 's_GE ability_NN1 to_TO support_VVI it_PPH1 ,_, even_CS21 if_CS22 GDP_NN1 growth_NN1 is_VBZ moderately_RR good_JJ during_II the_AT next_MD few_DA2 years_NNT2 ._. 
The_AT recession_NN1 came_VVD at_II the_AT best_JJT time_NNT1 that_CST it_PPH1 could_VM because_CS it_PPH1 has_VHZ given_VVN the_AT US_NP1 a_AT1 chance_NN1 to_TO make_VVI permanent_JJ adjustments_NN2 to_II the_AT government_NN1 's_GE economic_JJ and_CC regulatory_JJ policies_NN2 and_CC has_VHZ offered_VVN businesses_NN2 and_CC individuals_NN2 the_AT opportunity_NN1 to_TO change_VVI decades-old_JJ habits_NN2 ._. 
It_PPH1 has_VHZ also_RR allowed_VVN the_AT nation_NN1 to_TO look_VVI at_II its_APPGE place_NN1 in_II the_AT world_NN1 ,_, especially_RR its_APPGE best_JJT options_NN2 to_TO compete_VVI with_IW China_NP1 and_CC other_JJ emerging_JJ countries_NN2 ,_, in_II a_AT1 way_NN1 that_CST would_VM have_VHI been_VBN forestalled_VVN if_CS the_AT recession_NN1 had_VHD not_XX happened_VVN in_II 2008_MC and_CC 2009_MC ._. 
The_AT cause_NN1 of_IO the_AT recession_NN1 is_VBZ often_RR blamed_VVN on_II financial_JJ firms_NN2 that_CST took_VVD astonishingly_RR large_JJ risks_NN2 with_IW the_AT goal_NN1 of_IO multiplying_VVG their_APPGE earnings_NN2 at_II unprecedented_JJ levels_NN2 and_CC consumers_NN2 who_PNQS were_VBDR willing_JJ to_TO aggressively_RR borrow_VVI against_II inflated_JJ home_NN1 values_NN2 that_CST were_VBDR not_XX sustainable_JJ ._. 
Government_NN1 policies_NN2 might_VM have_VHI prevented_VVN this_DD1 if_CS regulators_NN2 could_VM have_VHI looked_VVN ahead_RL in_II 2005_MC and_CC seen_VVN the_AT danger_NN1 in_II financial_JJ firms_NN2 trading_VVG in_II exotic_JJ financial_JJ instruments_NN2 and_CC offering_VVG homeowners_NN2 loans_NN2 based_VVN on_II rapidly_RR rising_VVG home_NN1 prices_NN2 that_CST ,_, in_II some_DD cases_NN2 ,_, were_VBDR doubling_VVG every_AT1 three_MC or_CC four_MC years_NNT2 ._. 
Prescience_NN1 ,_, born_VVN of_IO powerful_JJ deductive_JJ skills_NN2 ,_, could_VM have_VHI caused_VVN regulators_NN2 to_TO sound_VVI alarm_NN1 bells_NN2 ,_, but_CCB the_AT collapse_NN1 of_IO the_AT over-leveraged_JJ system_NN1 was_VBDZ seen_VVN by_II very_RG few_DA2 experts_NN2 until_CS it_PPH1 was_VBDZ on_II31 top_II32 of_II33 the_AT economy_NN1 and_CC in_II the_AT process_NN1 of_IO ruining_VVG it_PPH1 ._. 
Congress_NN1 would_VM like_VVI to_TO regulate_VVI every_AT1 corner_NN1 of_IO the_AT financial_JJ system_NN1 based_VVN on_II the_AT idea_NN1 that_CST monitoring_VVG everything_PN1 can_VM prevent_VVI anything_PN1 bad_JJ from_II happening_NN1 ._. 
There_EX may_VM be_VBI a_AT1 certain_JJ truth_NN1 to_II that_DD1 ,_, but_CCB it_PPH1 is_VBZ also_RR true_JJ that_CST a_AT1 massive_JJ framework_NN1 of_IO regulation_NN1 would_VM serve_VVI to_TO push_VVI almost_RR all_DB risk_NN1 taking_NN1 out_II21 of_II22 the_AT market_NN1 ._. 
Overly_RR tight_JJ regulation_NN1 will_VM diminish_VVI the_AT rewards_NN2 that_CST could_VM come_VVI from_II improving_JJ bank_NN1 earnings_NN2 and_CC perhaps_RR destroy_VV0 the_AT system_NN1 where_CS credit-worthy_JJ individuals_NN2 and_CC businesses_NN2 have_VH0 relatively_RR easy_JJ access_NN1 to_II capital_NN1 ._. 
The_AT federal_JJ government_NN1 could_VM ban_VVI or_CC curtail_VVI financial_JJ activity_NN1 in_II the_AT derivatives_NN2 ,_, commodities_NN2 trading_VVG ,_, bank_NN1 lending_NN1 ,_, and_CC proprietary_JJ trading_NN1 portions_NN2 of_IO the_AT broad_JJ banking_NN1 system_NN1 ._. 
The_AT government_NN1 could_VM simultaneously_RR take_VVI many_DA2 of_IO the_AT risks_NN2 out_II21 of_II22 owning_VVG homes_NN2 by_II allowing_VVG millions_NNO2 of_IO people_NN to_TO modify_VVI mortgages_NN2 ._. 
This_DD1 could_VM offer_VVI artificial_JJ support_NN1 to_II housing_VVG just_RR as_CSA unemployment_NN1 offers_VVZ an_AT1 artificial_JJ support_NN1 to_II consumer_NN1 spending_NN1 ,_, but_CCB regulation_NN1 and_CC aid_NN1 interfere_VV0 with_IW normal_JJ economic_JJ forces_NN2 and_CC make_VV0 it_PPH1 impossible_JJ to_TO tell_VVI what_DDQ part_NN1 of_IO a_AT1 recovery_NN1 is_VBZ permanent_JJ and_CC which_DDQ part_NN1 is_VBZ transitory_JJ because_CS the_AT government_NN1 intervened_VVD ._. 
The_AT trajectory_NN1 of_IO the_AT economy_NN1 might_VM be_VBI improved_VVN for_IF decades_NNT2 if_CS financial_JJ firms_NN2 were_VBDR forced_VVN to_TO disclose_VVI the_AT risks_NN2 they_PPHS2 were_VBDR taking_VVG without_IW ceasing_VVG the_AT process_NN1 of_IO taking_VVG those_DD2 risks_NN2 ._. 
The_AT system_NN1 would_VM be_VBI nearly_RR self-correcting_JJ if_CS products_NN2 like_II mortgage-backed_JJ securities_NN2 and_CC the_AT exposure_NN1 any_DD public_JJ company_NN1 had_VHD to_II them_PPHO2 were_VBDR disclosed_VVN in_II detail_NN1 in_II filings_NN2 with_IW the_AT SEC_NP1 ._. 
Risk_NN1 would_VM not_XX need_VVI to_TO disappear_VVI but_CCB the_AT number_NN1 of_IO people_NN privy_JJ to_II the_AT nature_NN1 of_IO the_AT risk_NN1 would_VM increase_VVI exponentially_RR ._. 
Boards_NN2 and_CC public_JJ shareholders_NN2 might_VM tolerate_VVI modest_JJ leverage_NN1 but_CCB ,_, knowing_VVG how_RGQ damaging_JJ highly_RR leveraged_JJ risks_NN2 could_VM be_VBI would_VM certainly_RR cause_VVI management_NN1 to_TO be_VBI more_RGR prudent_JJ ._. 
The_AT government_NN1 does_VDZ not_XX need_VVI to_TO tell_VVI banks_NN2 something_PN1 that_CST shareholders_NN2 are_VBR certain_JJ to_TO say_VVI with_IW great_JJ force_NN1 ._. 
The_AT end_NN1 of_IO the_AT recession_NN1 may_VM offer_VVI a_AT1 much_RR better_JJR balance_NN1 between_II the_AT risk_NN1 that_CST financial_JJ firms_NN2 take_VV0 and_CC the_AT potential_NN1 harm_VV0 it_PPH1 can_VM do_VDI to_II them_PPHO2 and_CC the_AT broader_JJR credit_NN1 system_NN1 ._. 
The_AT government_NN1 can_VM completely_RR stifle_VVI appropriate_JJ levels_NN2 of_IO risk_NN1 and_CC performance-based_JJ compensation_NN1 at_II banks_NN2 ,_, or_CC it_PPH1 can_VM make_VVI risk-taking_JJ and_CC compensation_NN1 more_RGR open_JJ systems_NN2 in_II which_DDQ the_AT wisdom_NN1 of_IO the_AT public_NN1 has_VHZ the_AT most_RGT important_JJ influence_NN1 on_II financial_JJ company_NN1 practices_NN2 ._. 
Years_NNT2 of_IO leverage_NN1 could_VM turn_VVI to_II decades_NNT2 of_IO profits_NN2 based_VVN on_II appropriate_JJ standards_NN2 that_CST allow_VV0 for_IF profits_NN2 and_CC not_XX foolhardiness_NN1 ._. 
Another_DD1 ,_, and_CC perhaps_RR the_AT most_RGT important_JJ by-product_NN1 of_IO the_AT recession_NN1 ,_, is_VBZ how_RRQ it_PPH1 is_VBZ remedied_VVN ._. 
The_AT majority_NN1 of_IO Congress_NN1 and_CC the_AT Administration_NN1 believe_VV0 that_CST a_AT1 growing_JJ national_JJ deficit_NN1 can_VM be_VBI maintained_VVN for_IF a_AT1 number_NN1 of_IO years_NNT2 ._. 
This_DD1 supposition_NN1 may_VM be_VBI challenged_VVN ,_, and_CC challenged_VVN soon_RR ,_, if_CS the_AT world_NN1 's_GE capital_NN1 markets_NN2 refuse_VV0 to_TO absorb_VVI hundreds_NNO2 of_IO billions_NNO2 of_IO dollars_NNU2 in_II US_NP1 debt_NN1 each_DD1 year_NNT1 ._. 
The_AT prevailing_JJ wisdom_NN1 is_VBZ that_CST the_AT largest_JJT holders_NN2 of_IO American_JJ paper_NN1 ,_, particularly_RR the_AT Chinese_JJ ,_, can_VM not_XX afford_VVI to_TO stop_VVI funding_VVG the_AT US_NP1 government_NN1 's_GE red_JJ ink_NN1 because_CS without_IW capital_NN1 to_TO stimulate_VVI the_AT world_NN1 largest_JJT economy_NN1 ,_, it_PPH1 will_VM fall_VVI back_RP into_II a_AT1 deep_JJ recession_NN1 ._. 
An_AT1 American_JJ economy_NN1 facing_VVG a_AT1 multi-year_JJ downturn_NN1 is_VBZ an_AT1 economy_NN1 that_CST is_VBZ no_RR21 longer_RR22 a_AT1 huge_JJ market_NN1 for_IF importing_VVG Chinese_JJ goods_NN2 ._. 
But_CCB ,_, China_NP1 has_VHZ what_DDQ is_VBZ estimated_VVN to_TO be_VBI $2_NNU trillion_NNO in_II foreign-exchange_NN1 reserves_NN2 and_CC an_AT1 economy_NN1 that_CST is_VBZ growing_VVG at_II 7%_NNU or_CC better_RRR ._. 
China_NP1 has_VHZ warned_VVN the_AT US_NP1 that_CST its_APPGE appetite_NN1 for_IF American_JJ debt_NN1 is_VBZ not_XX insatiable_JJ ._. 
Its_APPGE holdings_NN2 of_IO Treasuries_NN2 are_VBR already_RR nearly_RR $800_NNU billion_NNO ._. 
China_NP1 could_VM elect_VVI to_TO take_VVI a_AT1 risk_NN1 based_VVN on_II its_APPGE concerns_NN2 about_II the_AT US_NP1 deficit_NN1 and_CC significantly_RR slow_VV0 the_AT pace_NN1 at_II which_DDQ it_PPH1 lends_VVZ money_NN1 to_II the_AT American_JJ treasury_NN1 and_CC use_VV0 more_DAR of_IO that_DD1 capital_NN1 to_TO stimulate_VVI its_APPGE own_DA economy_NN1 ._. 
That_DD1 would_VM be_VBI an_AT1 extension_NN1 of_IO its_APPGE current_JJ $585_NNU billion_NNO package_NN1 which_DDQ is_VBZ being_VBG credited_VVN for_IF keeping_VVG the_AT Chinese_JJ economy_NN1 on_II course_NN1 by_II replacing_VVG income_NN1 from_II exports_NN2 with_IW ready_JJ capital_NN1 and_CC infrastructure_NN1 projects_NN2 inside_II the_AT country_NN1 to_TO drive_VVI ongoing_JJ growth_NN1 ._. 
Some_DD experts_NN2 are_VBR concerned_JJ that_CST too_RG much_DA1 available_JJ capital_NN1 will_VM cause_VVI bubbles_NN2 in_II the_AT real_JJ estate_NN1 and_CC stock_NN1 markets_NN2 in_II China_NP1 ._. 
The_AT central_JJ government_NN1 may_VM decide_VVI it_PPH1 is_VBZ worth_II doing_VDG what_DDQ it_PPH1 can_VM to_TO keep_VVI bubbles_NN2 from_II forming_VVG in_II the_AT economy_NN1 even_CS21 if_CS22 its_APPGE efforts_NN2 are_VBR only_RR modestly_RR successful_JJ ,_, while_CS it_PPH1 weans_VVZ itself_PPX1 from_II its_APPGE huge_JJ dependence_NN1 on_II exports_NN2 to_II the_AT West_ND1 ._. 
China_NP1 will_VM never_RR have_VHI rapid_JJ GDP_NN1 growth_NN1 without_IW its_APPGE huge_JJ export_NN1 machine_NN1 ,_, but_CCB it_PPH1 may_VM be_VBI able_JK to_TO slightly_RR mitigate_VVI that_DD1 risk_NN1 by_II building_VVG a_AT1 more_RGR consumer-based_JJ economy_NN1 like_II the_AT one_PN1 that_CST has_VHZ been_VBN the_AT mainstay_NN1 of_IO US_NP1 GDP_NN1 growth_NN1 for_IF decades_NNT2 ._. 
An_AT1 America_NP1 faced_VVD with_IW limits_NN2 on_II it_PPH1 borrowing_VVG power_NN1 is_VBZ an_AT1 America_NP1 which_DDQ will_VM have_VHI to_TO quickly_RR find_VVI alternatives_NN2 to_II government_NN1 spending_VVG as_II the_AT primary_JJ means_NN of_IO priming_VVG the_AT pump_NN1 of_IO the_AT economy_NN1 ._. 
The_AT Administration_NN1 has_VHZ already_RR said_VVN that_CST an_AT1 increased_JJ manufacturing_NN1 base_NN1 in_II the_AT US_NP1 is_VBZ critical_JJ to_II improving_VVG US_NP1 exports_VVZ which_DDQ in_II turn_NN1 would_VM offset_VVI a_AT1 less_RGR voracious_JJ American_JJ consumer_NN1 ._. 
American_JJ businesses_NN2 will_VM need_VVI some_DD form_NN1 of_IO credit_NN1 from_II the_AT government_NN1 to_TO invest_VVI in_II manufacturing_NN1 ._. 
The_AT cost_NN1 of_IO labor_NN1 in_II the_AT US_NP1 is_VBZ still_RR too_RG high_JJ to_TO allow_VVI most_DAT businesses_NN2 to_TO compete_VVI with_IW the_AT cost_NN1 of_IO manufacturing_NN1 overseas_RL ._. 
Either_RR US_NP1 workers_NN2 will_VM have_VHI to_TO agree_VVI to_TO be_VBI paid_VVN less_RRR to_TO have_VHI sustainable_JJ jobs_NN2 ,_, or_CC manufacturing_NN1 efficiency_NN1 in_II America_NP1 will_VM have_VHI to_TO take_VVI a_AT1 great_JJ leap_NN1 forward_RL ._. 
Both_DB2 will_VM probably_RR have_VHI to_TO be_VBI part_NN1 of_IO any_DD long-term_JJ improvement_NN1 in_II the_AT status_NN1 of_IO the_AT US_NP1 economy_NN1 as_II a_AT1 growing_JJ manufacturing_NN1 presence_NN1 in_II the_AT world_NN1 ._. 
The_AT government_NN1 will_VM also_RR have_VHI to_TO decide_VVI if_CSW it_PPH1 wants_VVZ to_TO use_VVI its_APPGE limited_JJ resources_NN2 to_TO create_VVI programs_NN2 like_II infrastructure_NN1 improvements_NN2 to_TO produce_VVI jobs_NN2 which_DDQ may_VM not_XX last_VVI when_RRQ the_AT $787_NNU billion_NNO stimulus_NN1 program_NN1 is_VBZ over_RP ._. 
Alternatively_RR ,_, the_AT government_NN1 may_VM want_VVI to_TO provide_VVI permanent_JJ incentives_NN2 to_TO keep_VVI manufacturing_NN1 jobs_NN2 in_II the_AT US_NP1 and_CC to_TO prevent_VVI professional_JJ jobs_NN2 from_II moving_VVG off-shore_RL ._. 
It_PPH1 pays_VVZ GM_NP1 to_TO make_VVI cars_NN2 in_II China_NP1 and_CC Microsoft_NP1 and_CC IBM_NP1 to_TO move_VVI work_NN1 to_II India_NP1 ._. 
The_AT only_JJ practical_JJ way_NN1 to_TO get_VVI American_JJ businesses_NN2 to_TO stop_VVI sending_VVG jobs_NN2 overseas_RL is_VBZ to_TO provide_VVI them_PPHO2 with_IW tax_NN1 incentives_NN2 or_CC financial_JJ subsidies_NN2 to_TO make_VVI the_AT cost_NN1 of_IO US_NP1 labor_NN1 more_RGR competitive_JJ ._. 
It_PPH1 is_VBZ a_AT1 kind_NN1 of_IO employment_NN1 socialism_NN1 and_CC would_VM not_XX be_VBI economically_RR sustainable_JJ for_IF a_AT1 number_NN1 of_IO years_NNT2 but_CCB it_PPH1 could_VM keep_VVI jobs_NN2 in_II the_AT US_NP1 while_CS the_AT recovery_NN1 has_VHZ the_AT time_NNT1 to_TO take_VVI root_NN1 for_IF a_AT1 longer_JJR period_NN1 ._. 
The_AT recession_NN1 will_VM probably_RR lead_VVI both_RR American_JJ businesses_NN2 and_CC workers_NN2 to_II the_AT point_NN1 where_RRQ it_PPH1 is_VBZ clear_JJ that_CST the_AT cost_NN1 of_IO labor_NN1 in_II the_AT United_NP1 States_NP1 has_VHZ been_VBN too_RG high_JJ ,_, and_CC it_PPH1 has_VHZ been_VBN too_RG high_JJ for_IF twenty_MC or_CC thirty_MC years_NNT2 ._. 
That_DD1 has_VHZ not_XX been_VBN true_JJ uniformly_RR across_II all_DB industries_NN2 ._. 
Labor_NN1 became_VVD too_RG expensive_JJ in_II the_AT car_NN1 and_CC other_JJ manufacturing_NN1 industries_NN2 in_II the_AT 1970s_MC2 ._. 
The_AT cost_NN1 of_IO service_NN1 workers_NN2 ,_, especially_RR in_II the_AT technology_NN1 industry_NN1 ,_, has_VHZ become_VVN too_RG expensive_JJ in_II just_RR the_AT last_MD few_DA2 years_NNT2 ._. 
The_AT American_JJ worker_NN1 is_VBZ going_VVGK to_TO have_VHI to_TO come_VVI to_II terms_NN2 with_IW the_AT fact_NN1 that_CST an_AT1 economy_NN1 that_CST supports_VVZ 95%_NNU employment_NN1 will_VM be_VBI an_AT1 economy_NN1 where_CS the_AT incomes_NN2 in_II many_DA2 industries_NN2 must_VM decrease_VVI ._. 
The_AT hundreds_NNO2 of_IO thousands_NNO2 of_IO workers_NN2 who_PNQS have_VH0 been_VBN fired_VVN from_II the_AT auto_NN1 industry_NN1 ,_, the_AT airline_NN1 industry_NN1 ,_, and_CC other_JJ segments_NN2 of_IO the_AT private_JJ sector_NN1 that_CST have_VH0 suffered_VVN irreversible_JJ damage_NN1 to_II their_APPGE fortunes_NN2 may_VM not_XX be_VBI able_JK to_TO find_VVI permanent_JJ unemployment_NN1 ._. 
The_AT government_NN1 can_VM not_XX afford_VVI to_TO care_VVI for_IF them_PPHO2 ._. 
Some_DD of_IO these_DD2 people_NN will_NN1 may_VM jobs_NN2 for_IF less_DAR money_NN1 and_CC that_DD1 will_VM bring_VVI the_AT overall_JJ cost_NN1 of_IO labor_NN1 in_II America_NP1 down_RP ._. 
That_DD1 will_NN1 ,_, in_II turn_NN1 ,_, reduce_VV0 consumer_NN1 spending_NN1 ,_, so_CS the_AT Administration_NN1 's_GE plan_NN1 to_TO help_VVI improve_VVI the_AT export_NN1 portion_NN1 of_IO the_AT economy_NN1 as_II a_AT1 key_NN1 to_II GDP_NN1 growth_NN1 comes_VVZ at_II the_AT right_JJ time_NNT1 ._. 
The_AT US_NP1 is_VBZ going_VVGK to_TO have_VHI to_TO be_VBI much_RR more_RGR aggressive_JJ in_II defending_VVG the_AT intellectual_JJ property_NN1 rights_NN2 of_IO the_AT companies_NN2 that_CST employ_VV0 its_APPGE workers_NN2 and_CC pay_VV0 its_APPGE taxes_NN2 ._. 
An_AT1 economy_NN1 that_CST was_VBDZ relatively_RR strong_JJ for_IF a_AT1 long_JJ period_NN1 of_IO time_NNT1 partially_RR concealed_VVD the_AT huge_JJ loss_NN1 of_IO income_NN1 that_CST US_NP1 enterprises_NN2 should_VM have_VHI gotten_VVN from_II software_NN1 ,_, entertainment_NN1 ,_, defense_NN1 and_CC aerospace_NN1 expertise_NN1 ,_, and_CC alternative_JJ energy_NN1 and_CC biotech_VV0 knowledge_NN1 ._. 
Microsoft_NP1 ,_, the_AT world_NN1 's_GE largest_JJT software_NN1 company_NN1 ,_, says_VVZ that_CST it_PPH1 has_VHZ all_RR21 but_RR22 given_VVN up_RP on_II doing_VDG profitable_JJ business_NN1 in_II China_NP1 ._. 
Reuters_NP1 reports_VVZ that_CST the_AT movie_NN1 ,_, music_NN1 ,_, software_NN1 ,_, and_CC book_NN1 industries_NN2 claim_VV0 to_TO have_VHI lost_VVN $3.5_NNU billion_NNO to_II piracy_NN1 in_II China_NP1 in_II 2007_MC ._. 
The_AT same_DA problem_NN1 exists_VVZ in_II other_JJ large_JJ nations_NN2 including_II Russia_NP1 and_CC India_NP1 ._. 
The_AT Business_NN1 Software_NN1 Alliance_NN1 survey_NN1 of_IO the_AT global_JJ piracy_NN1 problem_NN1 in_II 2006_MC claimed_VVD that_CST the_AT practice_NN1 cost_VV0 the_AT industry_NN1 $40_NNU billion_NNO that_DD1 year_NNT1 ,_, and_CC only_RR for_IF software_NN1 installed_VVN on_II PCs_NN2 ._. 
That_DD1 does_VDZ not_XX include_VVI the_AT huge_JJ markets_NN2 for_IF server_NN1 and_CC other_JJ enterprise_NN1 software_NN1 or_CC software_NN1 for_IF handheld_JJ devices_NN2 ._. 
