The right wing dogma driven state of denial...
The economy expanded for four consecutive quarters after the stimulus spending accelerated and began to contract as the stimulus dollars ran out...All of these had to just be coincidences...bolts from the sky!!!
CBO Report
CBO estimates that ARRAÂ’s policies had the following effects in the second quarter of calendar year 2010:
* They raised real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.5 percent,
* Lowered the unemployment rate by between 0.7 percentage points and 1.8 percentage points,
* Increased the number of people employed by between 1.4 million and 3.3 million, and
* Increased the number of full-time-equivalent jobs by 2.0 million to 4.8 million compared with what would have occurred otherwise
The effects of ARRA on output are expected to gradually diminish during the second half of 2010 and beyond. The effects of ARRA on employment and unemployment are expected to lag slightly behind the effects on output; they are expected to wane gradually in 2011 and beyond.