Five myths about Obama’s stimulus

Five myths about Obama’s stimulus – The Washington Post

Mythbusters, read on and find out the facts on the 2009 Obama stimulus package:

Top economic forecasters estimate that the stimulus produced about 2.5 million jobs and added between 2.1 percent and 3.8 percent to our gross domestic product

. The jobs numbers that spring, while grim, marked the biggest quarterly improvement in almost 30 years. The Recovery Act launched a weak recovery, but even a w
eak recovery beats a depression.

“Critics may call it “porkulus,” but the stimulus was also the first modern spending bill with no official legislative earmarks, the usual definition of “pork.” And after experts warned that 5 to 7 percent of the money could be lost to fraud, investigators documented only $7.2 million in losses through 2011, about 0.001 percent.”

http://www.washingtonpost.com/opinions/five-myths-about-obamas-stimulus/2012/08/10/7935341e-e176-11e1-ae7f-d2a13e249eb2_story.html?Post+generic=%3Ftid%3Dsm_twitter_washingtonpost

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: