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July 30, 2010
Government's Own Data: 'Stimulus' Did Not Stimulate
Topics: Political News and commentariesObama can run his "Recovery Summer" tour around the country claiming "the stimulus worked" all he wants, but it doesn't change the facts.
As AJStrata points out, contrary to those lame brain fools (Barack Obama included) who had the idea government spending -- fueled by running up massive deficits and debt -- would 'stimulate' the economy have to eat some crow now that the government's own key indicators show no evidence of any stimulus.
This is hard core data, contrary to the "complex quantitative economic model" used by 2 economists that recently claimed the stimulus worked. One can run "what ifs" and "if we had nots" till blue in the face, but sooner or later reality hits the road. As Peter Suderman points out at Reason, from the limit-knowledge standpoint of the present, models can provide a loose guide to what we think might happen in the future - but the idea that models can tell us what's happened in the past is quite another matter. The "proof" touted by stimulus advocates that the program worked isn't really proof of much at all, even though Community Organizer-in-Chief Barack Obama (no business management or economic expertise whatsoever - just cherry picking economists' claims) would like to think otherwise.
Posted by Richard at July 30, 2010 10:17 AM
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