The Washington Post told readers that the Congressional Budget Office projected that most of the spending on the discretionary projects included in President Obama's stimulus package "would come too late to lift the nation out of recession." Actually, projections showing that spending will not occur until after October 1, 2010 (the cutoff referred to in the article) will still provide a much needed boost to the economy according to CBO. In its baseline scenario the unemployment rate is still projected to be close to 9 percent by the end of 2010. This would mean that any boost to the economy from a stimulus package could still have a useful impact in lowering unemployment.
--Dean Baker
