On August 27, 2010, the BEA reduced its estimate for 2Q2010 GDP growth from 2.4% to 1.6%. This is far lower than the 3.7% growth seen in 1Q2010, much less the 5.0% growth reported for 4Q2009. Total employment declined by 495,000 during the three months ending in July. Opinion polls show that more Americans believe in UFOs than believe that "stimulus" helped the economy. Yet, despite the mounting evidence, the Administration, most Democrats in Congress, and many economists are clinging to "stimulus" the way Obama once accused some Americans of clinging to guns and religion.

On August 24, the CBO released an analysis of the efficacy of the $814 billion (latest estimate) "stimulus" program entitled, "Estimated Impact of the American Recovery and Reinvestment Act on Employment and...