| 3Q economic growth at 3.5% was mostly due to the Stim.
I'll never agree with all the measures taken, and you can be sure that not all funds allocated went to where they would be most efficiently deployed- that is inevitable given the size and scope of the excercise, and the usual political lobbying and pork barreling.
But Obama was quite correct in what he said earlier this year- the economic effects of the Stim would be seen in the economy during the third quarter. My jury is still out, but if meaningful economic growth is maintained in 4Q, my overall assesment will be that it was a success.
But either GM or (probably) Chrysler should have been let go, and I think the Obama admin should have driven a tougher deal with the banks- it's really galling to see the likes of Goldman Sachs and their traders raking in billions, and the government and Taxpayers that bailed their sorry asses out so recently gets no upside from it beyond the Loan being repaid.
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Patriotism is the last refuge of a scoundrel. |