What Defenders of Obama's Stimulus Don't Understand

Defenders of Barack Obama's stimulus are wrong about how effective it was. They don't understand the power of the Federal Reserve.
Photographer: Andrew Harrer/Bloomberg

On the fifth anniversary of President Barack Obama 's fiscal stimulus, defenders of the policy were out in force making the case that it worked. Most of their arguments failed to address the strongest reason for doubting that it did much good.

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