The Reason for 15 Million Unemployed: Poor Thinking at the TopQuicklink submitted by Margaret Bassett Permalink
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|Dean Baker: ...the stimulus was about $300 billion for both 2009 and 2010. The federal stimulus is also being offset by approximately $150 billion in annual budget cuts at the state and local level. This leaves a net stimulus from the government sector of around $150 billion a year. This will not offset a loss in annual demand of $1.2 trillion; it's like trying to fill a swimming pool with five buckets of water.|
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