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USA Today: Amid mounting signs that the economic recovery is faltering, one potential remedy seems out of the question: a booster shot of government spending.
The White House says the multiyear $814 billion stimulus program passed by Congress in 2009 boosted employment by 2.5 million to 3.6 million jobs and raised the nation's annual economic output by almost $400 billion. A recent study by two prominent economists generally agrees, crediting the pump-priming with averting "what could gave been called Great Depression 2.0."
| Tags: | Barack Obama, George W. Bush, Monetary policy, Great Depression, Unemployment, American Recovery and Reinvestment Act of 2009, Presidency of Barack Obama, Macroeconomics |
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