Liveblogging World War II: August 15, 1941
Thank-Eee Mister Rooz-Eee-Velt!

An Elbow to the Ribs While the Ref Isn't Looking II: Macroeconomic Analysis Department

Hoisted from comments: John Hund:

An Elbow to the Ribs While the Ref Isn't Looking: Macroeconomic Analysis Department: It really bugs me that Greg also linked "uncritically" to this graph, pointing to it as an example of massive Obama stimulus:

As I pointed out there, this is a red herring to anyone with a remote understanding of Federal budgeting and GDP figures. Discretionary non-defense spending, even if you attribute it all to the President and not the Congress who actually appropriates it looks nothing like this, even with the "wrong" nominal GDP denominator. For kicks, it looks like this:

Why link here if not to make a political point? Greg clearly knows that the correct graph doesn't look like that.