Another good prescription from this page.
"What is the right response to a recession? The first rule must be to do no harm. When it comes to government, that is asking a lot and enough. Beyond that, in an ideal world, we would shut down the Fed, reduce the cost of employment, reduce taxes, zap environmental controls on exploring for and refining oil — this would be a good beginning. We could expect the recession to last less than a year under these policies. As it is, we could be in for a very long and deep recession."
The Government Wrecks the Economy - Llewellyn H. Rockwell, Jr. - Mises Institute