I can’t believe I’m reading this from one of the smartest econobloggers out there, Megan McArdle. See for yourself:
I’m watching Obama claim that it is “largely thanks to the Recovery Act” that the recession didn’t become a depression. I supported the stimulus, and still do. But this claim is ludicrous.
The stimulus didn’t avert a depression. It hasn’t stemmed stemmed job losses. We’re saddled with new debt and, in some cases, newly-higher baseline spending. And it limits our choices in the future — on domestic spending, because the money’s all gone; and internationally, so as not to offend our foreign creditors.
Oh, and the damn “Recovery” act has put us at risk of a nasty inflation and a double-dip recession.
So tell me, Megan, why you supported this thing and, more importantly, how you manage to support it still?
(Hat tip, Insty.)