The crisis led to significant fiscal stimulus efforts by the US government to offset the downturn. But this column argues that, properly adjusted for the declining fiscal expenditure of the fifty states, the aggregate stimulus was close to zero in 2009. While a net decline was avoided, the stimulus did not raise aggregate expenditure above its predicted mean. This can explain the anemic reaction of the US economy to the alleged “big federal fiscal stimulus”.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Sunday, March 7, 2010
The net fiscal expenditure stimulus in the US 2008-2009: Less than what you might think
from Vox. This academic type article on US expenditure efforts to stimulate the economy supports the intuitive impression that very little NET stimulus has actually happened--hence very little progress in reviving the economy.