WH Advisor: Stimulus Effect Is Mostly Over

This one is too rich for words. For months now, the Obama Administration has weathered criticism that his so-called “stimulus package” had little effect on the economy. The administration response has been to say that most of the spending hasn’t occurred yet, and it will give us a big economic boost in the future.

Not so! According to Christina Romer, PresBo’s chief economic advisor, the “stimulus package” has had all the positive effect on the economy it is going to. Future spending will help keep the economy where it is, but won’t stimulate it to new growth.
http://www.cnsnews.com/news/article/55943

The government's economic stimulus spending has already had its biggest impact and probably won't contribute to significant growth next year, a top White House adviser said Thursday.

Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said the initial jolt of the $787 billion stimulus expanded the economy in the second and third quarters of this year. But she said the remaining spending will simply keep the economy from slipping. "By mid-2010," she said, "fiscal stimulus will likely be contributing little to further growth."

You know, I really wish that PresBo and company would stop changing stories every ten or fifteen minutes. They need to pick one assertion that they’re going to claim as truth and stick to it. But by changing stories so often, he gives the strong impression that he has no idea what he’s doing.

Now we find out that what little economic benefits we may or may not have seen (signs are minimal and debatable) is about all we’re going to see. In the future, the “stimulus” will just keep our heads above water.

Some stimulus. And to think we got all this at the bargain-basement price of… wait, $787 billion? Somebody call that waiter back here, I think he made a mistake on our bill…