Monday, August 2, 2010

What about the stimulus?

From the NY Times: "The deficit has risen further under President Obama, to about $1.4 trillion this year, as the White House has tried to contain the recession it inherited.
The $862 billion economic stimulus, enacted by the Obama administration and congress in 2009 along with subsequent aid, like extended jobless benefits, prevented a bad situation from becoming worse,by supporting consumer demand at a time when private sector demand had
collapsed. More help is needed. So far, atimulus accounts for an estimated 15% of the deficit in 2009,28% in 2010 and 14% in 2011.

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