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Republicans constantly remind us that the Obama stimulus--the American Recovery and Reinvestment Act of 2009--did not work. They voted against it. In the United Kingdom the government is led by Conservative Prime Minister David Cameron. His government did not adopt stimulus. Instead it boldly enacted an economic program that cut spending and raised taxes. The chart below shows the results and compares it to the U.S. experience. After three and a half years, U.S. GDP is just about returning to the pre-recession peak. That's awful. But it s far better than the U.K. where GDP is still five percent ($750 billion in US terms) below its pre-recession peak.
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Yeah Obama pumped up the economy. Of course the dollar is down relative to the Pound since Obama took office and the stimulus was passed.
When Obama took office 1.38 dollars to buy a pound today 1.60 dollars to buy a pound. Dollar lost 15% of it's value vs the Pound.
So the rest of the world disagree with you and American Liberals.
"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
GDP, monetary value comparisons, the stock market...they're all temporary indicators. None of them matter in the long-term as we see over and over again throughout our recent history. Giving credit to the stimulus is suspect since it was enacted during one of the worst trough in the economy we have seen in a long time. Naturally, we would see a rebound after a collapse. Hard to put that on any one thing.
Also, I cringe a bit when I see people give credit or blame to economic cycles to one President, philosophy, or anything else specifically. What we see today (or any other day) is more likely the result of a combination of the effects of prior and current administrations, the actions of other governments and other random things like events of nature, wars and accidents. Bailing out banks is not a solution, just a salve that, unless applied repeatedly, has no effect, and we should not make a habbit of bailing out banks. IMO, the money would have been better spent in a grand public works program, or not at all.
But those claiming that the stimulus has been bad, seem to be the same people that tell you how the world is better off without Saddam Hussein. Or that without "The Surge" things would've been way wose.
No way to prove or even chart those claims, which is why this chart is interesting and also confusing to those who live in abstract absolute althernative universes.