IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- What's The Stimulus Have To Do With It?: "Claims that higher taxes and a total of $2 trillion in stimulus, TARP and bailout spending this year have turned the economy around are unconvincing. Indeed, they're farcical.
As economist Casey Mulligan noted on the New York Times blog after dissecting second-quarter GDP data, total stimulus at the state and federal levels amounted to about $12 per person. That's stimulus?"
Unprecedented, massive monetary stimulus by the Fed is what is bringing an end to the recession. And the wealth that has been restored in the stock market is going to encourage consumers, who feel wealthier to spend more generously going forward.
But regardless of what brought about this turnaround, since we are now on the mend, why don't we cancel the rest of the $700B+ of Porkulus that hasn't been spent and put a massive dent in the growing deficit/debt picture?
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