The View From 1776
Thursday, October 22, 2009
It’s Official: Obama’s Stimulus Program Failed
ABC’s George Stephanopoulos notes the assessment of Dr. Christina Romer, who heads President Obama’s Council of Economic Advisors: the economic benefit of Obama’s stimulus bill, which economists have been unable to detect, already has been experienced; economic conditions, and unemployment in particular, won’t improve significantly for another year.
Given an unemployment rate still edging toward 10%, versus the administration’s promise that the stimulus program would keep unemployment under 8%, Dr. Romer’s testimony amounts to a confession of failure.
Hat tip to the Commentary website.