To say the stimulus didn't work is revisionism far greater than anything ever committed by a Communist state!

To say the stimulus didn't work is revisionism far greater than anything ever committed by a Communist state!

Here are some facts:

The $787 bln stimulus of last year produced these results:

1. The economy's output increased by $500 bln.
2. Household net worth (wealth) increased by $6 trillion
3. The stock market went up 80%.
4. Home prices stopped falling.
5. 1.6m jobs were created (when looking at both the household and establishment surveys).
6. Vehicle sales increased by 2 million.

All this occurred (and more) with a stimulus that was just 5% of GDP. Imagine if we had gone with the size that China did--15% of GDP.

Here's some more stuff...

Dirty little secrets that the Republicans will never admit to:

1. Deficits under Reagan were the highest in post WWII history. (Until now and we have a real crisis on our hands.)
2. Spending under Reagan was the highest in post WWII history.
3. The size of gov't under Reagan was the highest in post WWII history.
4. Debt service under Reagan was the highest in post WWII history and is still higher than debt service today!