Friday, December 24, 2010

Net job impact of stimulus zero, from SF Federal Reserve study

By August, 2010, the impact of the stimulus on net job creation had disappeared.  This is an astounding result, which destroys the Paul Krugman argument that the economy would be so much better right now, if only Congress had approved much more spending in February 2009.  Double the initial spending,  double the number of temporary jobs, with likely the same net result by this point in time, or a trivial number of "permanent  jobs created .  In fact, the unemployment rate is at a substantially higher percentage rate today at 9.8% than when the stimulus bill was passed. 


Courtesy: The American Thinker