Wednesday, November 23, 2011

We Were Stimulated

The Congressional Budget Office says the Obama stimulus plan worked.

The economy would have been in much worse shape without the 2009 stimulus—-which increased employment in the third quarter of this year by as many as 3.3 million full-time jobs, according to a report by the Congressional Budget Office.

[…]

The effects of the stimulus are fading after having peaked in the first half of 2010, the report noted.

However, the CBO estimates that the stimulus will raise GDP by 0.1 percent to 0.8 percent next year and employment by 200,000 to 1.1 million jobs.

But, as we all know, the CBO is a “reactionary socialist institution,” so take these results with a grain of salt. After all, facts have a well-known liberal bias.