The bad news is that, looking forward, the stimulus is going to be more and more of a spent force:
The effect of the stimulus, officially known as the American Recovery and Reinvestment Act (ARRA), will be smaller in coming quarters, as much of the money has already been spent, CBO said.
“The effects of ARRA on employment and unemployment … are expected to wane gradually in 2011 and beyond,” it said.
According to the CBO report, it appears that, in the second quarter, the stimulus is all that stood between us and a contraction in the economy.
With John Boehner and the rest of the asshole contingent of the Republican Party determined to oppose every single measure that might possibly boost the economy, especially employment, the economic contraction that the stimulus has been holding at bay is eventually going to arrive.
Boehner and the Republicans are doing this purely for selfish political purposes, mind you, the cost to America and Americans be damned. All because Boehner believes that’s what it will take for him to become the first T-and-A Speaker of the House.
And when that contraction arrives, Boehner’s will be the loudest voice blaming it all on Obama‘s failed economic policies.