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VP Biden has no doubts on stimulus, but you should

By | May 1st, 2010

Vice President Joe Biden, in Colorado on Friday, called for all aboard the stimulus-spending hype train.

“It is unquestionable that the economic program… contained in the Recovery Act has in fact been a success,” said Biden at UQM Technologies. “You notice everybody thought…in the beginning it was a terrible thing. No one doubts now that it saved or produced 2.5 million jobs.”

Hmmm. Politifact’s fact-check of a similar statement from Pres. Obama rates it “half-true” and notes, “As anyone with a passing familiarity with economics might expect, economists are far from unified on their estimates of how big an effect the stimulus has had on jobs.”

Politifact also notes…

“Some scholars, including many conservatives, believe that the multiplier effect from the stimulus is small or nonexistent. ‘Every dollar Congress injects into the economy must first be taxed or borrowed out of the economy,’ writes economist Brian Riedl of the conservative Heritage Foundation.”

Biden also headed a fundraiser in Denver for U.S. Rep. Betsy Markey, praising her for “supporting three policies that likely will frame Republican attempts to oust her in the fall – economic stimulus spending, changing the nation’s energy policy and health-care reform,” wrote Robert Moore of the The Coloradoan.

On all three, the Democrats’ numbers don’t add up.

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