Proof Stimuli Haven’t Been Working
The United States has been stimulatin’ and bailin’ out since last year, and today we found out that nothing’s turning around, or even doing as well as “expected.” Fox News has the report that the economy shrank worse than expected in the fourth quarter last year:
The U.S. economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.
The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month. It also was considerably weaker than the 5.4 percent annualized decline economists expected.
Expectations for the next quarter or so? Pretty much more of the same.
Remember, Congress’ own budget office says this recession would end relatively soon even without a stimulus.
The only thing the stimuli seem to be stimulating is the Democratic Party’s agenda.