"If job-creating government spending has failed to bring down unemployment in the Obama era,...

|By:, SA News Editor

"If job-creating government spending has failed to bring down unemployment in the Obama era, it’s not because it doesn’t work; it’s because it wasn’t tried," Paul Krugman asserts. Of the cost of the stimulus, he says more than 40% came from tax cuts, while another large chunk consisted of aid to state and local governments; only the remainder involved direct federal spending.