The big, overarching fact of the period following 2008′s financial crisis is the failure of economic stimulus. Nearly a trillion dollars in bailouts, followed by nearly a trillion dollars in fiscal stimulus, followed by a multi-trillion dollar increase in the money supply have mortgaged our future for decades to come, in order to produce chronic high unemployment and growth rates stuck at a stagnant 1-2%.
So how does the left, whose favorite economy policy is stimulus spending, confront this fact?
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