Posted by | August 12, 2011 14:44 | Filed under: Top Stories

Conservative economist Douglas Holtz-Eakin used a chart to show that the stimulus plan didn’t produce the intended effect. But we found out in July that the economy was much worse than originally believed.

In July the Bureau of Economic Analysis updated its estimates of gross domestic product, the largest measure of our economy’s output, which showed that the Great Recession was much deeper even than we thought it was just a few months ago. What happens when we use Holtz-Eakin’s method for evaluating the Recovery Act but employ the latest data? It turns out that, according to Holtz-Eakin, the stimulus was a smashing success.

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Copyright 2011 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.