Forget what those expert economists say: Jeff Poor knows better

Blog ››› ››› JAMISON FOSER

Newsbusters' Jeff Poor issues a proclamation:

We've already seen how ineffective the previous $787-billion stimulus Congress and the President forced through earlier this year has been with curbing unemployment, as it has raced into double-digits over the previous months. But will there be an effort to force through another one?

Now, let's set aside the question of whether the first stimulus really has been "ineffective" for a moment.

Poor never once entertains the possibility that if it has been ineffective (or insufficiently effective), it's because it was too small. This despite the fact that many economists at the time said it should be bigger. And despite the fact that conservative economist Martin Feldstein, a former Reagan administration official, says "There should have been more direct federal spending," and former McCain economic advisor Mark Zandi says "there was a considerable amount of hand-wringing that it was too small, and I sympathized with that argument." Zandi also says "the stimulus is doing what it was supposed to do - it is contributing to ending the recession. ... In my view, without the stimulus, G.D.P. would still be negative and unemployment would be firmly over 11 percent. And there are a little over 1.1 million more jobs out there as of October than would have been out there without the stimulus."

No, forget all that: Newsbusters' Jeff Poor says the stimulus has been ineffective, and there shouldn't be any more. He doesn't offer any evidence or expert analysis -- but why would we need any? He's Newsbuster Jeff Poor. Isn't that enough?

Posted In
Economy
Network/Outlet
NewsBusters
Person
Jeff Poor
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