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. |
Read the rest of the story HERE:
At tpmcafe.talkingpointsmemo.com
Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.