It could have been worse

Much, much worse.  Follow the link to the charts.  Without the stimulus things would have gotten even nastier, and the data justifies the notion that the stimulus should have been larger.

The electorate, of course, rewards actual conditions, not conditions relative to a hypothetical scenario in which ameliorative policies weren’t adopted. But it’s evidence that there’s no actionable coherence clause in American politics that critics of the stimulus can argue against the effort on the grounds that joblessness is too high. If you think joblessness is too high and something should be done to lower it, then you think we should have more stimulus, not less.



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