For The Record–Obama Did Too Little Stimulus, Not Too Much

It seems like governments are being run by people who are too optimistic about the future.  We have one in Coral Gables, and, no doubt, one in Washington that has led into a very slow recovery.  No one talks about the 20 unemployed/underemployed.  Sad, but true.

By fall 2009 it was obvious that the pessimists — those who warned that the aftermath of the financial crisis would be a prolonged period of high unemployment, not the V-shaped recession and recovery envisioned in the original stimulus plan — had been right. The case for doing more — and at least for demanding more action, so that the other party could at least be accused of obstructionism — was overwhelming.

via The Fatal Pivot – NYTimes.com.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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