Just recently he published an article titled Five myths about Obama's stimulus that provides us with invaluable information for combating the lies and distortions that have been spread by not only the Republicans, but many on the left as well.
Here's a quick summary.
Myth 1: The stimulus didn't create jobs
Top economic forecasters estimate that the stimulus produced about 2.5 million jobs and added between 2.1 percent and 3.8 percent to our gross domestic product...Myth 2: The stimulus was full of waste, pork and fraud
Job losses peaked the month before it passed. The jobs numbers that spring, while grim, marked the biggest quarterly improvement in almost 30 years.
...the stimulus was also the first modern spending bill with no official legislative earmarks, the usual definition of “pork.” And after experts warned that 5 to 7 percent of the money could be lost to fraud, investigators documented only $7.2 million in losses through 2011, about 0.001 percent.Myth 3: The stimulus should have been much bigger
...there was no way Obama could have gotten another dime out of Congress...Myth 4: Unlike the New Deal, the stimulus will leave no legacy
Everyone involved in the negotiations — including liberals who favored a larger stimulus — agrees that Obama got as much as he could get.
The stimulus was the biggest and most transformative energy bill in history, pouring an astonishing $90 billion into record expansions of every imaginable form of clean energy, from renewables to electric vehicles. It included $27 billion to computerize health care. Its Race to the Top was a landmark in education reform. Its high-speed rail program was the most ambitious transportation initiative since the interstates. It extended high-speed Internet to underserved communities, a modern twist on the New Deal’s rural electrification, and modernized the New Deal-era unemployment insurance system. And much more.Myth 5: The stimulus showed that Obama can't legislate
The deals that got the Recovery Act done served notice that after campaigning as a change-the-system outsider, Obama would govern as a work-the-system insider. He was pragmatic enough to recognize that a bill that can’t pass Congress can’t make change.So how's that for a take-down of everything from the right's lies about ineffectiveness and corruption to the left's handwringing over its size and impact?
But that last line is the money quote..."a bill that can't pass Congress can't make change." Its why folks like Paul Krugman make great economists, but would be lousy politicians.