The Wall Street Journal, August 20, 2009 by David Wessel
http://online.wsj.com/article/SB125070781745443839.html
The recession was more than a year old when Mr. Obama took office, the Fed already had cut interest rates to zero and the economy was still in free fall. “If ever there was a case for a fiscal stimulus, this was it,” says Alan Auerbach, a University of California, Berkeley, economist who will kick off an appraisal of the stimulus at this weekend’s Fed retreat.