Thank you President Obama for saving the USA from a depression.
Many columnists on the right don't want to seriously discuss the reasons for the recession. They just label the corrective stimulus package as "failed" and hope you forget how, who and what caused the recession!
But in fact, there is "remarkable consensus among economists on both the left and the right" on what makes good policy. So says the University of Chicago, Booth School of Business. (Remember Milton Friedman and Monetary Policy?)
The Booth School polled leading economists and "80 percent said the stimulus had helped reduce unemployment; while only 4 percent said it had not."
More telling was the response to the idea that tax cuts would "boost the economy so much that they would pay for themselves."
The University of Chicago study "couldn't find a single economist who agreed with that."
The facts seem to be at odds with most of the political rhetoric coming from the right. If you don't like Obama, fine, but find some other reason than economic policy to dislike him. Now don't take my word for it. Check with the Congressional Budget Office, the University of Chicago, or Bloomberg.com on the tax cuts and the stimulus.
So the next time some politician, or anyone, tells you that the economic stimulus did not work, or that the tax cuts would pay for themselves, just remind him or her they are exposing their own ignorance.