[lbo-talk] America's fiscal union

Doug Henwood dhenwood at panix.com
Thu Sep 8 09:48:43 PDT 2011


On Sep 8, 2011, at 12:41 PM, Jordan Hayes wrote:


> I think there were a lot of people who nominally supported the stimpak who now say: well, we tried that, and it didn't work.

Oh yeah. Try making the argument to a skeptic/opponent that goes something like this: "Unemployment crept higher for a few months after the StimPak passed, and then declined for about a year and a half. The decline stopped just as the effects of the stimulus was waning. This is exactly what could be expected from ARRA. It wasn't as stimulative as it could have been, and it was too short lived, but the economy did follow the script." All true, but they will not believe you.

Doug



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