Some Really Lazy Blogging About How I’m Awesome…Just Like the Stimulus Bill

I know. I’m so good, it’s scary. Like macroeconomic scary and shit. Congressional Budgetary Office take me home please:

The Congressional Budget Office late Monday said it estimates that the federal stimulus package sustained between 600,000 and 1.6 million jobs in the third quarter, and raised gross domestic product by 1.2 to 3.2 percentage points higher than it would have been without the program.

That sound you just heard was Glenn Beck’s head exploding.

For all the talk about skyrocketing budget deficits, the massive expansion of government, and the spread of the socialist “disease” it looks the President’s stimulus bill is *gasp* working. When the Wall Street Journal is reporting that democratic economic policies are working, you know the GOP is in trouble. Oh well, so much for Republicans getting their Christmas wish this year. (Clearly they’ve been naughty). I suppose the country will just have to avoid collapse one more day. *sigh* Sadness.

But as Ezra Klein notes, the CBO analysis provides even more oh so interesting information for Democrats:

Leading the list of high-multiplier items is direct spending by the federal government, infrastructure aid to states and localities, other types of aid to states and localities, and transfer payments (think unemployment insurance and food stamps) to individuals. At the bottom of the list are corporate tax cuts, the new homeowner’s tax credit and individual tax cuts.

In other words, the breakdown of the stimulus shows us that the most effective parts of the stimulus were those championed by progressives (government spending, state aid, infrastructure investment) while the least effective were conservative policies democrats included in order to draw bipartisan support (that never showed up).

Government Spending: 1,649
Tax Cuts: 3

Damn it feels good to be a gangster.

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One thought on “Some Really Lazy Blogging About How I’m Awesome…Just Like the Stimulus Bill

  1. Your post made me smile. It is about time the stimulus bill got its due. Sure there were things in it that should not have been, but on balance the bill was a big help to the economy. The only question now is if a majority of Americans will support enough government spending to continue growth long enough for consumers to feel confident about the future of the economy. Sadly, I am not encouraged about that prospect. The Republicans will, most likely, convince enough people that government participation in the economy is evil in order to limit government’s future role in the recovery. Then, when the economy slows, Republicans will blame Democrats. Unfortunately, many voters will be dumb enough to fall for the Republican trick.

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