The State and Local Drag on the Stimulus

Source: Dean Baker and Rivka Deutsch, Center for Economic and Policy Research, May 2009

From the press release:
The latest housing and GDP numbers leave little doubt that the nation is now in the grips of the deepest recession in more than half a century. Earlier this year, the President and Congress attempted to address the economic crisis with a stimulus package aimed at giving a much-needed boost to the economy. A new report from CEPR, however, shows that due to budget shortfalls for state and local governments, the full impact of the 2009 ARRA will be significantly less than is generally recognized.

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