This week.
Contra Wizbang and Roger Kimball, this is actually the latest estimate of Mark Zandi, not the Obama administration itself. What the Obama administration is merely doing is trying to lower the expectations of their debt bill:
WASHINGTON (Reuters)- President Barack Obama’s aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.
[I’m snipping the nonsense about how this was Obama’s first major legislative victory. The sentence should more properly read: “It was the legislature’s first major victory over his young presidency.” – ML]
“There will be signs of activity very quickly,” David Axelrod, the White House senior adviser, said on “Fox News Sunday.” “But it’s going to take time for that to show up in the statistics. The president has said it’s likely to get worse before it gets better.”
Continue reading Jobs ‘saved’ by ‘stimulus’ reduced to 2.5 million.