NYT Calls the Obama Stimulus, Which Most Economists Think Was Too Small, “Huge”

October 25, 2022

The NYT doesn’t like the Democrats’ economic policies, and they make this very clear in their news section. Their latest salvo referred to President Obama’s 2009 stimulus package as “huge.”

“After Democrats passed a huge economic stimulus bill, other economic measures like legislation to help consumers trade in their ‘clunker’ cars for more efficient models, and a landmark regulation of Wall Street, they could say they had made progress on the economy.”

In retrospect, most economists have argued that the stimulus was too small. (Some of us said that at the time.) As a result, it took us almost a decade to get back to something approaching full employment. The NYT should just have said it didn’t like the stimulus package.


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