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February 10, 2009

Obama's claim that 'virtually all economists support their approach to "stimulus" spending is patently untrue'

Topics: Political News and commentaries

In his ""What Consensus for the "Stimulus?"" Bryan Riedl writes at NRO:

The Obama administration has claimed
that virtually all economists support their approach to "stimulus"
spending. This is patently untrue. Nobel Laureates Ed Prescott, James
Buchanan, and Vernon Smith recently joined 200 other economists signing a letter opposing the legislation. Other notable economists critical of the stimulus package include Nobel Laureate Gary Becker, as well as Robert Barro, Greg Mankiw, Arthur Laffer, and Larry Lindsey.  Martin Feldstein, who had been the only notable conservative economist loudly supporting the stimulus, has since changed his mind.

More liberal economists such as Alice Rivlin and Alan Blinder have also strongly criticized certain aspects of the spending bill. 

Even President Obama's own economic advisers--who are leading the
fight for the "stimulus" bill--previously criticized the bill's economic
underpinnings.

More here.

Related: Obama Truth Check

Linked: Jeremiah Films

Posted by Hyscience at February 10, 2009 12:17 PM



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