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Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com
A recent study by two prominent economists generally agrees, crediting the pump-priming with averting "what could have been called Great Depression 2.0."
Eighteen months later, the consensus among economists is that the stimulus worked in staving off a rerun of the 1930s. But the spending's impact was dwarfed by other crisis-fighting tools deployed by the Bush and Obama administrations, including costly efforts to stabilize crippled banks and the Fed's unconventional monetary policy.
"I think it was important for confidence. ... But fiscal stimulus was the least important of the three planks of the government's strategy," said Harvard University's Kenneth Rogoff, former chief economist of the International Monetary Fund.
Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com
A recent study by two prominent economists generally agrees, crediting the pump-priming with averting "what could have been called Great Depression 2.0."
Eighteen months later, the consensus among economists is that the stimulus worked in staving off a rerun of the 1930s. But the spending's impact was dwarfed by other crisis-fighting tools deployed by the Bush and Obama administrations, including costly efforts to stabilize crippled banks and the Fed's unconventional monetary policy.
"I think it was important for confidence. ... But fiscal stimulus was the least important of the three planks of the government's strategy," said Harvard University's Kenneth Rogoff, former chief economist of the International Monetary Fund.
Wrong!
Speaking of those estimates, how do they work? They provide two versions. The first utilizes multipliers. These tools estimate how different kinds of stimulus spending add to GDP, and consequently, create jobs. They're also highly controversial. Different economists may believe that different multipliers values should be used.
Romer Reveals the Stimulus Jobs Scorecard - Business - The Atlantic
The economic news isn't so good here. My allowance got cut by 20%!
The economic news isn't so good here. My allowance got cut by 20%!
lol
Well the future is coming! I predict we hear more "good news" while things only get slightly worse as time goes on. If we could combine all this "good news" over the last 2 years one would think we would be booming, and yet here we are, still debating if the stimulus had any long term positive effects.
The GDP shows growth! Take away Government dumping BILLIONS on it and you would see a shock and awe drop. The growth we are hearing about is fabricated, fake, unsustainable or any word meaning not real you would like to use. As I said before, the most Bush, Obama and the Federal Reserve are hoping for is to float the economy into the next bubble, of course no one knows what that bubble could be but they sure are praying for it.
During Bush's last 18 months in office we "dumped" $4 Trillion into the economy and yet the GDP was negative for 5 of those 6 quarters
