February 2012 Archives

Did the 2009 Stimulus Package Work?

This article appeared in the Deseret News yesterday.

Congress passed the American Recovery and Reinvestment Act in February of 2009. If you will recall, at the time it was touted by its proponents as an economic treatment for the recession caused by the housing financial crisis that preceded it.
From the Deseret News this last Tuesday.

In terms of public opinion, the past couple of years have not been kind to people who work in financial markets.  The subprime mortgage meltdown and recession have generated negative feelings among a substantial number of Americans toward financial markets and the people who profit from them.  Recent rhetoric in the Republican presidential primaries concerning Mitt Romney's role at Bain Capital and Bain's role in the economy has revived the issue.

Authors

  • Richard W. Evans is an Assistant Professor of Economics at Brigham Young University

  • Jason DeBacker is an Assistant Professor of Economics at Middle Tennessee State University

  • Kerk L. Phillips is an Associate Professor of Economics at Brigham Young University