Latest CBO report on Stimulus Act has both good and bad news
The nonpartisan Congressional Budget Office is out with a new report it calls the “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From July 2010 Through September 2010.”
Overall, it’s a mixed bag of good and bad news.
The report says the Stimulus Act has “raised the GDP, lowered unemployment, and increased the number of people with jobs.”
But it also says the effects of the act “are now diminishing.”
The story is HERE.
UPDATE: If your taste for theories on the “dismal science” (Thomas Carlyle’s disparaging name for economics) runs to the arcane, you might enjoy THIS PIECE by Paul Krugman.
But I should warn you: Some of what Krugman says may not neatly fit your pre-conceived notions about him, especially if you’re a right-winger who thinks of him as some kind of Marxist.