Monday, November 29, 2010

How do you know the stimulus failed?

Even local television stations have begun airing post-mortems on why it didn't work.

Don't worry. It was only $814 billion, right?

An "oops" should suffice as an explanation for such overwhelming waste.

And the bad news doesn't end there.

From the CBO:

Without declaring the impact over, CBO estimates 70% of the budget impact ended with fy2010. It suggests the impact on growth peaked and is now “diminishing” and the impact on unemployment will “wane gradually” in the current fourth quarter.
Great. Just great.

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