The Stimulus Worked

The Stimulus Worked

Economists Say Government Action Prevented A Depression

As if any fair minded observer didn't know -- Economists Alan S. Blinder, a Princeton professor and former vice chairman of the Fed, and Mark Zandi, chief economist at Moody's Analytics, have released a  paper, which the New York Times calls, is "a first stab at comprehensively estimating the effects of the economic policy responses of the last few years," that credits the Obama administration's fiscal stimulus program, the Wall Street bailout, (Troubled Asset Relief Program), the Federal Reserve actions, of emergency lending and asset purchases, to keeping America from falling into a depression. The economists say that without these government actions, "the nation's gross domestic product would be about 6.5 percent lower this year. In addition, there would be about 8.5 million fewer jobs, on top of the more than 8 million already lost; and the economy would be experiencing deflation, instead of low inflation."

The GOP, in its short-sighted scheme to deny President Obama a second term, by denying the effectiveness of the government's actions to keep the country out a depression, have blocked and delayed measures that would aid a recovery. They have placed partisan politics above the good of the country. Clearly, understanding that economic recovery would not only benefit America and Americans, but would benefit Mr. Obama and the Democrats, the GOP has said to hell with America, and to hell with the recovery, which would benefit Mr. Obama politically, and disadvantages them.

A suitable motto for the GOP would be selfishness above patriotism.