We Should Be Beating the Drum To Stop the Stimulus

Robert J. Barro: Stimulus Spending Doesn't Work - WSJ.com: "The bottom line is this: The available empirical evidence does not support the idea that spending multipliers typically exceed one, and thus spending stimulus programs will likely raise GDP by less than the increase in government spending. Defense-spending multipliers exceeding one likely apply only at very high unemployment rates, and nondefense multipliers are probably smaller. However, there is empirical support for the proposition that tax rate reductions will increase real GDP.

Mr. Barro is a professor of economics at Harvard. Mr. Redlick is a recent Harvard graduate. This op-ed is based on a working paper issued by the National Bureau of Economic Research in September."

I believe that public disgust and anger over the $800B stimulus is largely responsible for saving us from ObamaCare. The President really shot himself in the foot backing that boondoggle. If he were as smart as people say he is, he'd call for the unspent stimulus dollars to be canceled. We all know they are not stimulating the economy. This research only confirms what we already knew. Canceling stimulus spending is the right thing to do and a political winner.