Stimulus Fantasy
smartertimes.com

A Times news article headlined "emphasis on Deficit Reduction Is Seen By Economists as Impeding Recovery" begins:

The nation's unemployment rate would probably be nearly a point lower, roughly 6.5 percent, and economic growth almost two points higher this year if Washington had not cut spending and raised taxes as it has since 2011, according to private-sector and government economists.

This is absurd. These economists have no way of knowing what would happen. The last time around, they famously predicted a lower unemployment rate than what actually happened after the stimulus. And the Times lumps together the spending cuts and the tax increases as if they have the same effect.

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Stimulus Fantasy
smartertimes.com

A Times news article headlined "emphasis on Deficit Reduction Is Seen By Economists as Impeding Recovery" begins:

The nation's unemployment rate would probably be nearly a point lower, roughly 6.5 percent, and economic growth almost two points higher this year if Washington had not cut spending and raised taxes as it has since 2011, according to private-sector and government economists.

This is absurd. These economists have no way of knowing what would happen. The last time around, they famously predicted a lower unemployment rate than what actually happened after the stimulus. And the Times lumps together the spending cuts and the tax increases as if they have the same effect.

Read More...