"The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid"

Franklin Raines' quote is describing the automatic stabilizer, which is a tool utilized by governments to help support the economy. The automated stabilizer works by offering support to those who are affected by financial recessions, such as those who are jobless or have low earnings. This help can come in the kind of unemployment insurance, food stamps, and additional protection of Medicaid. These programs help to guarantee that those who are impacted by financial declines have access to the resources they require to survive and get back on their feet. By supplying this support, the automatic stabilizer assists to lower the seriousness of economic declines and assists to make sure that the economy remains stable.