Awww, what do they know? NYTimes (07.27.10), via Political Wire:
"In a new paper, the economists argue that without the Wall Street bailout, the bank stress tests, the emergency lending and asset purchases by the Federal Reserve, and the Obama administration’s fiscal stimulus program, the nation’s gross domestic product would be about 6.5 percent lower this year. In Study, 2 Economists Say Intervention Helped Avert a 2nd Depression"In addition, there would be about 8.5 million fewer jobs, on top of the more than 8 million already lost; and the economy would be experiencing deflation, instead of low inflation."
Labels: economy and jobs