All along, those who knew what they were talking about have said that if we just leave the economy alone, things would get better, and fairly quickly.
Here, we have proof:
“The New York Times reported that the U.S. economy “might be stabilizing, if not rebounding, even as economic reports in Europe remained gloomy.” “
sounds good, right? Except for the this niggling little fact:
“One problem with attributing America’s slightly less bad economic news to the Obama-backed $787 billion stimulus package is that very little of the money actually has been spent. As of a month ago, less than 6 percent of the stimulus money had gone out, and only 25 percent is expected to make its way into the economy by the end of the year. “
adn the admission, buried deep in the article, that “”it is impossible to know how much the apparent, if nascent, stabilization of the American economy comes from the stimulus spending and how much from moves like propping up the banking and credit systems, especially because much of the stimulus money has yet to make it to the economy.” “
So we spent all of the money for the next how many years to accomplish, what exactly?
Perhaps we should rescind the rest of the “stimulus”, since it appears that it is not needed.
Then again: “Never let a good crisis go to waste”……
Read the whole thing.