Down the drain: How the federal government flushed away the $833 billion stimulus. “Ramey found that the multiplier for government purchases was somewhere between 0.6 and 1.1, meaning that at most each dollar of government purchases produced an extra dime of economic activity, while the worst-case scenario meant losing 40 cents on the dollar.” So apparently, doing something stupid is worse than doing nothing at all? Fancy that.
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If anyone with a brain didn't realize this is EXACTLY what obummer wants (to bankrupt our country so we can all be equally miserable), you are NOT PAYING ATTENTION.
Stimulus is just another word for "sucker"
This country was bankrupt long before Obama, try 1964 when Corporate Greed stole our gold.
Speaking of suckers. . . .
jcrowley1985 - Do you ever tire of typing the same stuff? I sure as hell am tired of seeing it.
Wrong president dufus, Nixon took us off, not LBJ. That said, we should'nt have gone off of the gold standard.
The stimulus was nothing more then a slush fund set up to reward public sector unions & to reward camapign donors who had sketchy at best buisinesses, like green enegy buisinesses.
Of course, but they had to pretend that it was going to "fix" the economy in order to get it passed. There had to be an air of legitimacy about it to fool the rubes at home.
The sad fact is, as some commentators have noted, the pols thought the economy would quickly bounce back on its own like it had in every other recession since WWII. They decided to pass this slush fund stimulus so that when it did, they could claim the credit for it and look like heros. When it turned out that the economic illiterates had greatly misunderstood the nature of the downturn (it was an asset bubble deflation, not a garden-variety one caused by Fed tightening) they ended up looking like idiots and causing more harm than good. The best and the brightest.