"But at this particular moment, with the private sector so weakened by this recession, the federal government is the only entity left with the resources to jolt our economy back to life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs."  President Obama, February 2009.Recessions With and Without a Stimulus(1) United States (stimulus passed Feb. 2009)Sources:  St. Louis Fed/FRED.  Statistics Canada.  HT:  HotAir.Hoven's Index for July 12, 2010Increase in US jobs from low point to most recent (June 2010):  0.7%Increase in Canada's jobs from low point to most recent (June 2010):  2.4%US federal government deficit recent peak, as percentage of GDP:  9.9%Canada's deficit recent peak, as percentage of GDP:  3.5%Sources:  St. Louis Fed/FRED, Statistics Canada, CBO and ABS-CBN News.Graph of the Day Archive.(Read Full Post)