Larry Summers cites Google search as progress

[alienlovechild 75]

The number of people searching for the term “economic depression” on Google is down to normal levels, Summers said.

Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics.

“We pledged at the time the Recovery Act became law that some of the spending and tax effects would begin almost immediately.,” Summers said in prepared remarks. “We also noted that the impact of the Recovery Act would build up over time, peaking during 2010 with about 70 percent of the total stimulus provided in the first 18 months. Now, five months after the passage, we are on track to meet that timeline. “

Summers rattled off a list of accomplishments of the stimulus package:

“More than $43 billion in immediate tax relief has reached households and businesses. Another $64 billion has been channeled into the economy through aid to state and local governments, expansions in social programs, and spending on education, housing, and transportation projects. In addition to the amount that has already been paid out, another $120 billion in spending has been obligated by the federal government and is on track to begin working its way into the economy.”

http://www.politico.com/news/stories/0709/25083.html

[Mr. Big Dog 10,747]

Obviously, there's no valuable information to be had from google search records. Which, I suppose, is why the Bush administration fought tooth and nail with google over those exact records. They just did that for shits and giggles.

Edited July 18, 2009 by Mr. Big Dog

[Pooky 3,786]

Citing Google Search for statistics is just as reliable as citing Wikipedia for accurate and unbiased information.

I laugh