Ezra Klein patiently explains why dividing the cost of the stimulus by the number of jobs the bill created isn't a good way to measure its effectiveness. All I can say is that if McCain had won, there would have been a stimulus, and if more than a third of it were tax cuts, I'd have been surprised. And if Obama had not enacted a stimulus, and the global economy had spiraled into the abyss and unemployment were now 13 percent, the Republicans would be accusing him of having the worst economic record of any president since Hoover.

I'm not wrong, as Bill Maher might say, am I?

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