Krugman Debunks Bogus Stimulus Critics

New York Times columnist Paul Krugman helpfully debunks (1/26/09) some of the more tendentious and misleading criticisms of the White House's economic stimulus package. Here's one such trope: First, thereâ┚¬Ã¢”ž¢s the bogus talking point that the Obama plan will cost $275,000 per job created. Why is it bogus? Because it involves taking the cost of a plan that will extend over several years, creating millions of jobs each year, and dividing it by the jobs created in just one of those years. Itâ┚¬Ã¢”ž¢s as if an opponent of the school lunch program were to take an estimate of the cost […]