"Most obviously, it was too small. When we were designing it,
most forecasters estimated that the United States would lose around six million jobs during the recession without fiscal stimulus. Compared with this baseline, creating three million jobs would have filled roughly half of the employment hole.
As it turned out, even with the stimulus, we lost almost nine million jobs. Indeed, because of horrific job losses in late 2008 and early 2009, we’d nearly passed the six-million mark before the Recovery Act was even signed. Adding in the estimated effect of the act, the correct no-stimulus baseline was a total employment fall of nearly 12 million. With a loss that big, creating three million jobs was helpful, but not nearly enough."
http://www.nytimes.com/2012/10/21/b...stimulus-helped-and-could-have-done-more.html
Lol, she has wasted so much of her life adhering to a set of economic principles that only work in the vacuum of a University Classroom.
A economic theory that's only applicable in the corrupted minds of ideologues that sit around in small groups comparing their levels of Bush hate.
It's just another excuse from the likes of you Gimme. It's the one constant since you guys elected a Community Activist who's absolutely loaded with unworkable leftist ideas, like " Keynesian economics ".
Your constant excuses for one failure after another," if we only had more stimulus " , " if only the Republicans would work with us ", " We had no idea had bad things were", " the evil rich people aren't giving us enough of their money" etc.
Sh**, you elected a bunch of corrupt incompetent leftist, what did you think was going to happen ?
After 4 and a half years of massive spending, massive subsidies to the banks and almost 7 trillion in new structural debt, debt that was built paying off a increasing dependent class, you guys are still in the dark on how our economy works.
All of the stimulis in the world, all of the QE in the world, it just produces massive debt , a larger and more corrupt Government, more dependents and a shrinking middle class.
But you guys have excuses, useless pitiful excuses for a ridiculous economic agenda pushed by a empty suite Community Organizer.