While the U.S. economy is not fully recovered from the collapse of 2008, I believe that the economic stimulus did produce some positive results. The national unemployment rate has dropped significantly and continues to drop, while the Dow Jones has bounced back and currently sits at over 12,000. It may take another five to ten years before we can truly assess whether or not the economic stimulus was a complete success.
No, the U.S. economic stimulus didn’t work. Whatever it did, it did not trickle down to the people who work in factories, fast food, retail stores, grocery stores and other jobs paying minimum wage or barely above it. The people at these levels continue to struggle on a day to day basis, not being able to afford more than the bare necessities and not knowing how much more their hours will be cut or if they will be able to find another job if they lose the one they have. Jobs continue to be elusive at this level and many have cut workers hours drastically. At the same time, the price of food has risen substantially over the last year, people have not gotten raises, and the cost of insurance premiums and copays has risen for those who are lucky enough to even be offered insurance. The stimulus may have helped the stock market and the auto industry, but it has completely bi-passed an entire group of people who have given up dreaming of a better life.
All the economic stimulus did is delay the inevitable. We're STILL in mountains of debt that is going up by the day, by the second even. The economy is in the toilet, jobs are almost non-existent and being outsourced still, the dollar is on the verge of bottoming out at any moment, etc etc. All this stimulus does is delay the final fall a little while longer. It's like putting lipstick on a pig, no matter what you do to make it pretty, it's still a pig. Or more to the point it's like putting drugs into a dead man trying to save him, they aren't gonna bring him back.
If the stimulus worked, then why are we now into quantitative easing 3? The health of our economy is in shambles. We can't print money indefinitely and not face some serious consequences. We have to keep our interest rates at 0 % just to stay afloat. Until we move past this fiat currency system we will not experience a real recovery.