Republican economist Greg Mankiw says it hasn't. While a follow of Keynes, Mankiw served fro 3 years as an economic advisor to President Bush. His chart suggests that the stimulus dollars have done little to stem the heavy tide of unemployment.
Analysis
To be sure, (these) facts don't lie. But, the trick is to make sure we're using the right set of facts. The Obama administration is certainly guilty of optimistic assumptions and rosy scenarios, but what we don't know (and neither does Mankiw) is what the true baseline for economic misery was when Obama took office. Time will tell, but for now we're just guesstimating.
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