Scott Brown versus economic reality

“Failure should be admitted in Washington, and not repeated. With last month’s news that we lost another 85,000 jobs, and with unemployment stuck in the double digits, it’s time to admit that while the $787 billion stimulus had the best of intentions, it failed to create one new job.”

— Scott Brown, Boston Globe, Jan. 14

“Perhaps the best-known economic research firms are IHS Global Insight, Macroeconomic Advisers and Moody’s Economy.com. They all estimate that the bill has added 1.6 million to 1.8 million jobs so far and that its ultimate impact will be roughly 2.5 million jobs. The Congressional Budget Office, an independent agency, considers these estimates to be conservative.”

— David Leonhardt, New York Times, Feb. 16