The stimulus worked

It's somewhat depressing that I even have to explain to a good (though not particularly well-informed) Liberal Democrat like my wife, that, indeed, the stimulus worked.  Of course, as her small business, like many others, goes through really tough times, it's hard to see that.  I'm pretty sure I blogged about this a while ago, but today's buzz in the liberal blogosphere would seem to suggest that Dave Leonhardt has written the ultimate stimulus defense.  Here's the catchy beginning:

Imagine if, one year ago, Congress had passed a stimulus bill that really worked.

Let’s
say this bill had started spending money within a matter of weeks and
had rapidly helped the economy. Let’s also imagine it was large enough
to have had a huge impact on jobs — employing something like two
million people who would otherwise be unemployed right now.

If that had happened, what would the economy look like today?

Well,
it would look almost exactly as it does now. Because those nice
descriptions of the stimulus that I just gave aren’t hypothetical. They
are descriptions of the actual bill.

Of course it doesn't help that Republicans keep claiming it didn't work despite all evidence to the contrary and the media just repeats their claims as if they have some validity. 

About Steve Greene
Professor of Political Science at NC State http://faculty.chass.ncsu.edu/shgreene

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