(Financial Times - U.K.)

By Clive Crook

Unemployment has already risen further in the US than President Barack Obama's economics team expected, and forecasters agree it will rise for quite a while yet. In fact, it has risen further than in the White House projections early this year of what would happen if Congress failed to pass the fiscal stimulus. A huge stimulus was enacted. Now Republicans point to the weakness of the economy and say the policy failed.

Supposing it did, was this because the fiscal remedy was misconceived in the first place? Or was it because the stimulus was too timid, as some Democrats believe, implying the need for a second round of tax cuts and spending increases? (...)

Go to the source