Skip to main content

View Diary: Job growth clocks in at disappointing 120,000, far below forecasts. Unemployment rate falls to 8.2% (167 comments)

Comment Preferences

  •  Yes, yes, I understand that. (0+ / 0-)

    And there were many reasons for that, including the fact that the Administration was oblivious to the real rate of GDP contraction.

    But even with $1.8T, which in a real world would have been whittled down to say $1.2T, you're still very far from that $2T to $3T band you needed to be in.

    In order to even be talking about what the stimulus could have accomplished, we need to be in that $2T to $3T range, which no one was discussing at the time.

    All this leads me to conclude that even with a bigger stimulus, the net effect today would be harldy any different.

    Instead of wondering what if Romer's $1.8T had gotten to Obama's desk, wonder about what would be if the Government had calculated a 9% GDP contraction.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site