5 Years After Successful Stimulus, Right-Wing Media Still In Denial
In the years since President Obama signed the American Recovery and Reinvestment Act -- commonly referred to as the stimulus -- right-wing media outlets have engaged in a steady campaign of misinformation to claim that it didn't help the economy.
February 17 marked the five-year anniversary of the implementation of the American Recovery and Reinvestment Act of 2009, a multi-billion economic stimulus package designed to spur economic growth and job creation during the Great Recession. The legislation increased infrastructure investments and implemented a variety of tax cuts for individuals and businesses, totaling approximately $831 billion over the 2009-2019 period.
Ever since the stimulus was signed into law, right-wing media figures have repeatedly pushed misinformation about its structure and alleged ill-effects. From forwarding false claims about the bill providing tax breaks for undocumented workers to baselessly linking it to Operation Fast and Furious, no myth has been too outrageous in the campaign to disparage the stimulus and President Obama.
The most frequently pushed myth about the stimulus, of course, is that it failed to increase economic growth or create jobs. The erroneous notion that the stimulus“failed” has appeared repeatedly in the right-wing media over the past five years, often being brought up to stymie any potential increases in government spending and investment.
The idea that increased government spending in the stimulus did not help the economy is patently false, and easily disproved by economists.
A 2010 Wall Street Journal poll of economists revealed that a majority of economists agree that the stimulus boosted growth, and according to a May 2012 Congressional Budget Office report, the stimulus created the equivalent of between 900,000 and 4.7 million jobs in 2010 and between 600,000 and 3.6 million jobs in 2011. Furthermore, a February 2013 report from the Center on Budget and Policy Priorities illustrates how GDP growth would have been slower had the stimulus not been enacted:
Despite the facts, multiple outlets -- including Fox News and the Wall Street Journal -- are using the five-year anniversary of the stimulus' implementation to push the same tired myths. On February 18, one Fox host even went so far as to wonder whether or not it caused a recession, ignoring the fact that the economy has been growing steadily since the stimulus was implemented.
If recent history is any indication, right-wing media are unlikely to stop their campaign of misinformation around the bill, particularly if additional spending measures -- a policy recommended by economists -- are implemented.