Economist Zandi: John Boehner 'Just Wrong' about Obama Stimulus

Article excerpt

Mark Zandi of Moody's Analytics and Economy.com says House Republican leader John Boehner is 'just wrong' when he says Obama administration efforts to stimulate the economy have 'gotten us nowhere.'

House Republican Leader John Boehner delivered a stinging critique of Obama Administration economic policies at the City Club of Cleveland on Tuesday in which he said that "all this stimulus spending has gotten us nowhere."

When asked about that statement at a Monitor-sponsored breakfast for reporters on Wednesday, Mark Zandi, chief economist of Moody's Analytics and co-founder of Economy.com said, "that is just wrong, the stimulus has been very helpful."

Mr. Zandi was an advisor to John McCain's presidential campaign. The Wall Street Journal has called him "the de facto chief economist to Congress."

In noting his disagreement with the Republican leader, Zandi said "we would be in a measurably worse place if not for the stimulus. I don't think it is any coincidence that the great recession ended at precisely the same time that the stimulus, and in this case when I say stimulus I am talking about the [American Recovery and Reinvestment Act] . …