All the evidence, then, points to substantial positive
short-run effects from the Obama stimulus. And there were
surely long-term benefits, too: big investments in everything from
green energy to electronic medical records.
So why does everyone — or, to be more accurate, everyone
except those who have seriously studied the issue — believe that the stimulus
was a failure? Because the U.S. economy continued to perform poorly — not
disastrously, but poorly — after the stimulus went into effect.
Interesting expression of faith. By what means could we "know" what would have happened without the stimulus? Dr. K moves with ease from the role of economist to true believer.
"Big Investments"? Where the money bro?
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