93% of the economists surveyed by the University of Chicago Booth School of Business believed that the Obama stimulus i.e. American Recovery and Reinvestment Act of 2009 helped reduce unemployment. But when factoring in the potential costs of either raising taxes to address the deficit spending – only 14% of the economists surveyed felt the economy would be better off without having passed the Obama stimulus package.
The Washington Post points out the head of the non-partisan Congressional Budget Office says it worked HERE:
“Where did Washington mess up?” Huelskamp demanded. “Because you’re saying most economists think it should’ve worked. It didn’t.”
Most economists not only think it should have worked; they think it did work, Elmendorf replied. CBO’s own analysis found that the package added as many as 3.3 million jobs to the economy during the second quarter of 2010, and may have prevented the nation from lapsing back into recession.
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