Back in
February, President Obama presented the $787 billion American
Recovery and Reinvestment Act as the only alternative to a
never-ending recession, and last week he declared, "We've
rescued our economy from catastrophe." Christina Romer, his
chief economic adviser, said the stimulus package "absolutely" is
working as intended. But Senior Editor Jacob Sullum says the idea
that the stimulus package played a major role in the
incipient recovery is belied by two inconvenient
facts.
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