Economic Myths: We Separate Fact From Fiction

by Michael Grabell
ProPublica, Aug. 18, 2011, 3:44 p.m.

With the recent Iowa straw poll and President Obama's bus tour, Americans are hearing a cacophony of arguments about the wobbly economy. The federal stimulus package passed in 2009 was either a deficit-busting failure full of wasteful projects or an unparalleled rescue that would have been more successful if it had only been bigger. Taxes are either stifling or the lowest they've ever been. America needs to invest in infrastructure, or "infrastructure" is merely a euphemism for more government spending. So, here's our guide to the most prevalent economic myths.