The Stimulus Worked - - Part MMCXVII

[babylonsister]

http://www.washingtonmonthly.com/archives/individual/2010_05/023981.php

THE STIMULUS WORKED -- PART MMCXVII.... A few months ago, Sen. Scott Brown (R-Mass.) insisted that the economic recovery effort that prevented a depression "hasn't created one new job." A reporter gave him a chance to clarify, asking, "It didn't create one new job?" The new senator replied, "That's correct."

For Republicans in general, this is simply assumed to be true. Indeed, the standard conservative line is that the stimulus actually hurt the economy.

The evidence to the contrary is so overwhelming, the debate is over.

The $800 billion U.S. stimulus package has had a slightly bigger effect on the U.S. economy than was projected when it was passed more than a year ago, the Congressional Budget Office estimated Tuesday.

Through the first quarter of 2010, the stimulus boosted employment by an estimated 1.3 million to 2.8 million jobs, about a quarter or half million more than projected. Gross domestic product was 1.7 to 4.1 percentage points higher than it would have been without the stimulus, the nonpartisan budget office said.

Similarly, the unemployment would be up to 1.5 percentage points higher in the absence of the stimulus, according to the non-partisan CBO.

Looking ahead, the CBO projects that as many as "3.7 million American jobs could be attributed to the Recovery Act by the end of the September."

There's a word to describe a recovery effort like this: success.

Facing the greatest economic crisis in generations, the nation had two choices early last year: the Democratic stimulus or the Republicans' proposed five-year spending freeze. We're all very fortunate the latter was in the minority.

—Steve Benen

[Jennicut]

1. It is too bad many in the public don't understand that either.

It is also too bad it was not bigger but Obama got we he could get.

[Cha]

2. Success is a word that doesn't want to be heard

by those unrec this thread.

There's so many hit pieces out there in the "news"papers on the Stimulus package..the real news must. not. get. through.

Wondered what would have happened with "5 years of freezing"..after the bushcheney coup spent their fucking heads off for 8?

[babylonsister]

3. I still wonder what 'they' are doing here if they're so blatantly

rooting for failure. I don't get it; this is a success for a Democratic president posted on a Dem board. :shrug:

[Cha]

5. We have to fight twice as hard with twice as

many enemies and still we will be the victors. That's the way I look at it.

And, they're anonymous so they can get away with it..but, somehow the facts are going to be known..thanks to people like Steve Benen, you, and all the others who are out there working to get them heard each and every day.

[impik]

4. Fucking disgrace to see people unrec something like this.

[wyldwolf]

6. as a commenter over at Political Wire just put it...

To the GOPers and the Leftist Purity Trolls: YOU'RE WELCOME. Fuckers.