"What luck for the rulers that men do not think." -Adolf Hitler
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"If the government robs Peter to pay Paul, he can count on the continued support of Paul.

Wednesday, February 24, 2010

CBO Report Was Pre-Ordained to Show the Stimulus Succeeded

"The problem here is obvious. Once CBO decided to assume that every dollar of government spending increased GDP by the multipliers above, its conclusion that the stimulus saved jobs was pre-ordained. The economy could have lost 10 million jobs and the model still would have said that without the stimulus it would have lost 11.5 million jobs."

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