Not only did Porkulus run up the national debt AFTER the recession ended (in the estimation of the official measuring-bunch NBER), it hasn't done jack since.
The Commerce Department reported Thursday that gross domestic product -- the broadest measure of the economy's health -- expanded at a feeble 1.7 percent annual rate in the April-to-June quarter.
Yes, 1Q was better than 2Q.
...it marks a sharp slowdown from a 3.7 percent growth rate logged in the first quarter.
But 3Q is certainly not much (if any) better than 2Q.
Tennessee Ernie was a propet: another day older and deeper in debt...I owe my soul to the PRC store...
And that's all she wrote for stimulus, in terms of positively effecting GDP. Starting about now, ARRA impacts GDP negatively as it winds down.
ReplyDeleteThe Fed. is the only thing holding'er up as we move forward.
Enjoy 2011 everyone.