John Keynes, Right Again

No big surprise for any of us who haven’t spent the last thirty years obsessively fetishizing (but not reading) Adam Smith via Reagan and Milton Friedman, but according to USA Today, uh, today, LOL – the stimulus is working. Key grafs:

A huge influx of federal stimulus money to state and local governments more than offset a sharp drop in tax collections, helping to put the brakes on the nation’s economic decline, new government data show.

The stimulus funds helped reverse six months of spending declines, pushing state and local government expenditures up 4.8% in the second quarter, reports the Bureau of Economic Analysis.

Countdown to wingnut head-explosion in 5…4…3…2…1…