Former Massachussets Governor Mitt Romney slams Obama’s stimulus plan and said that it has been a failure. The scenario that the Obama administration forecast would happen without the stimulus plan is now happening anyway. The government said unemployment rate will rise above 10% without the stimulus plan. Even with the stimulus plan, unemployment rate has now reached very close to 10% now.

According to Romney, the stimulus that the President has passed apparently was not what could have helped the economy, and therefore he believes that the stimulus had to be stopped. The reason why it has not helped the economy is because the stimulus plan was focused more on government spending instead of growing the private sector.

However, Romney’s opinion was opposed by the Nobel prize-winning economist Paul Krugman who said that the stimulus plan did work but was far too small. He said according textbook of macroeconomics, the stimulus plan did work but it was far too small given the scale of the economic problems.

According to the most recent data released by the White House, the stimulus package that was $787 billion had saved or created 650,000 jobs most of which was in the nation’s schools. The editors of the Detroit News said that the Obama administration is trying “to spin the tepid job creation” sparked by the stimulus into an economic success but somehow the numbers don’t add up at all to show a good return for taxpayers. However, according to the Associate Press, the figures released by the White House had “numerous exaggerations, duplicate counts, and outright misstatements.” Obama owes taxpayers an honest accounting — “policy should be based on real numbers, not propaganda.”

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