Tuesday, 8 September 2009

Fiscal Stimulus

Interesting post on Greg Mankiw's blog showing the outcome of Obama's fiscal stimulus showing what was projected for the rate of unemployment back in January with and without the stimulus package. The graph comes from the presidents own economic team in a report from January 2009. The reality - shown by two red triangles for March & April 09 - should make Brown & Mandelson think very carefully before pronouncing that their stimulus package in the UK had 'saved' more than half a million jobs.