Schooling Fox On The Stimulus With One Chart

Blog ››› ››› CRAIG HARRINGTON

Fox wants to know whether the stimulus package signed by President Obama caused a recession.

In recognition of the five-year anniversary of the American Recovery and Reinvestment Act of 2009 -- commonly known as the stimulus -- Fox Business' Varney & Co. framed a segment around the question of whether it caused a recession.

Fox is just asking, and here is the answer in one simple chart. The most recent recession started in December 2007, over a year before the stimulus bill was signed into law. Since its passage in February 2009, the American economy experienced an immediate positive turn, culminating in more than four years of steady, gradual economic growth.

Fox's disregard for facts in its frantic push to disparage the president and his policies is nothing new, but the basic failure to understand that the economy has been recovering for the past five years marks a new low.

Posted In
Economy, Budget, Jobs, Wages, & Unemployment
Network/Outlet
Fox Business
Person
Stuart Varney, Art Laffer
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