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Saturday, November 21, 2009

Gault on the Stimulus



New Consensus Sees Stimulus as Worthy Step 
“It was worth doing — it’s made a difference,” said Nigel Gault, chief economist at IHS Global Insight, a financial forecasting and analysis group based in Lexington, Mass.
Mr. Gault added: “I don’t think it’s right to look at it by saying, ‘Well, the economy is still doing extremely badly, therefore the stimulus didn’t work.’ I’m afraid the answer is, yes, we did badly but we would have done even worse without the stimulus.”
Quotation is a serviceable substitute for wit. 

H/T: Memeorandum

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