How the Stimulus Fattened Our Wallets

Derek Thompson The Atlantic February 16, 2010

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Feb 15 2010, 12:49 pm by Derek Thompson

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Counter-factuals aside, The Obama brain trust stated that the un-employment rate would not go above 8% if the $786 Billion dollar stimulus was passed.

The Obama brain trust is NOW saying that the un-employment rate is going to stay ABOVE 8% thru 2012 -four years since the beginning of the Great Recession.

Regardless of what the President is saying, most Americans are thinking - "Can we trust the current Administration with our future?"

Lots of economists underestimated the depth of the recession. Not sure what your point is.

All the survey economists, to some degree, were blindsided by the depth of the recession.

Source Reply samX (Replying to: Rob in Denver) February 15, 2010 3:07 PM

Should we be impressed that group think is present in the same academic and political circles that brought us climategate?

But if you follow this argument, then you would still have to say that the actual stimulus is much worse than the Republican alternative presented by Senator McCain. After all, that bill contained even larger payroll tax cuts and the same amount of increased transfer payments. What it missed out on was the long-term government spending, the sort of thing that isn't spent yet from the stimulus. (You're correct that the transfer payments and tax cuts part of the stimulus will end, but the infrastructure spending is just getting started.)

If that's the "most illuminating point about the stimulus' effect" and the most convincing argument that you've heard, then you must agree that the McCain proposed Republican alternative stimulus was better than the Obama/Democratic stimulus plan actually passed.

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How the Stimulus Fattened Our Wallets

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