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The Reason for 15 Million Unemployed: Poor Thinking at the Top

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opednews.com Headlined to H4 12/9/09

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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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At tpmcafe.talkingpointsmemo.com

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