Some say things would have been worse if the stimulus funds had not been spent. They assume that more government spending, including the $862 billion stimulus, must be good for the economy. This form of Keynesian economics fell out of fashion decades ago everywhere, except in the halls of power in Washington.
If more government spending always helped the economy, why stop at $862 billion? Why not give each American an unlimited bank account? Then the unemployment rate would likely rise to 100%. But some economists would still offer unverifiable models to "prove" the benefit to the American public.
Bad economics does not make good government, and, as the economic data show, America is wallowing in bad economics.
Unemployed Americans know that they are worse off than before the stimulus package was passed, despite rosy estimates from CBO. It's time to try a different tack - lower taxes and spending - and budget numbers that are based on reality.
Read it all for some enlightening reasons why you can't believe the CBO's numbers about jobs the stimulus has supposedly provided.-SP