Five Years of Keynesian Fairy Dust

By Dan Mitchell, The Federalist - February 21, 2014

The country just “celebrated” the five-year anniversary of the so-called American Recovery and Reinvestment Act, more commonly referred to as the “stimulus.” The White House wants us to think the legislation was a success, publishing a report that claims the stimulus “saved or created about 6 million job-years” and “raised the level of GDP by between 2 and 3 percent from late 2009 through mid-2011.”

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