Dday analyzes the new CBO report on the Recovery Act:
...not only would the economy have contracted at extreme rates throughout late 2008 and 2009, but without the stimulus the economy would STILL be contracting. That’s a testament to how completely shaky the recovery is right now. And the scariest part is this final line: “CBO said it expects the effects of the stimulus to gradually diminish over the remainder of the year.”
At this point, I don't know what can be done. There's obviously no political will for more spending -- the only real solution. What's worse is the slow leak in the recovery on top of the unemployment rate is going to further undermine the perception of liberal economic policies and fuel a return to Reaganomics.
Sleep tight.