Saturday, February 20, 2010

The 'Stimulus' Actually Raised Unemployment

"In reality, as the CBO explains, 'five programs accounted for more than 80% of the outlays from ARRA in 2009: Medicaid, unemployment compensation, Social Security ... grants to state and local governments ... and student aid.'

"In other words, what was labeled a 'stimulus' bill was actually a stimulus to government transfer payments — cash and benefits that are primarily rewards for not working, or at least not working too hard."

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