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Obama criticized for the wrong reasons

“The administrati0n’s stimulus program has failed.” Thus began an op-ed by economist Allan Meltzer, of Carnegie Mellon University, in the Wall Street Journal of June 30. Yes, the gazillion dollar splurge failed – but not for the reasons Meltzer, or any other critics of Barack Obama’s administration tend to push. The stimulus bill failed because of  impossible expectations. People expected the package worth almost a trillion US dollars to kick-start the economy. That it would bring back the good ole’ times in a flash. It didn’t, it was never meant to do that, and until large chunks of the US economy are completely reinvented and reformed, it never will.