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Do you think that the economic stimulus the government has spent billions of dollars on has saved the U.S. from a depression?
The White House is releasing a Stimulus Report today that outlines how much money they've spent, how many jobs have been created and generally if their efforts have been effective.
What do you think? In your neck of the woods, have you seen any results from $150 billion dollars in spending?
What do you think? In your neck of the woods, have you seen any results from $150 billion dollars in spending?
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If you're referring to a depression as defined by several years of falling GDP, then yes, technically a depression has been averted. Thanks to programs like the American Reinvestment and Recovery Act and the popular Cash for Clunkers, the national gross domestic product has not declined consistently enough for this recession to become a depression.
However, in terms of real economic stress, the average U.S. citizen would probably disagree.
However, in terms of real economic stress, the average U.S. citizen would probably disagree.
source(s):
www.about.com
www.recovery.org
www.about.com
www.recovery.org
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It didn't save us, but can you imagine what the situation would be like if they haven't spent that money? It was never about "saving from depression" but about mitigating it..
I'm not saying the stimulus hasn't had an effect, but you're taking as axiomatic that it has had a positive effect.
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