Mythbusters

Media Matters for America previously identified numerous myths and falsehoods advanced by the media in their coverage of the American Recovery and Reinvestment Act. As debate on the bill continues in Congress, other myths and falsehoods advanced by the media about the recovery package have risen to prominence. These myths and falsehoods include: the assertion that the bill will not stimulate the economy -- including the false assertion that the Congressional Budget Office (CBO) said the bill will not stimulate the economy; that spending in the bill is not stimulus; that there is no reason for stimulus after an economic turnaround begins; that corporate tax rate cuts and capital gains tax rate cuts would provide substantial stimulus; and that undocumented immigrants without Social Security numbers could receive the "Making Work Pay" tax credit provided in the bill.

[Here are a few more Myths about the stimulus package that get debunked.]

1. The bill will not stimulate the economy
2. Government spending in the bill is not stimulus
3. There is no reason for stimulus after a turnaround begins
4. Corporate tax rate cuts and capital gains tax rate cuts would provide substantial stimulus
5. Undocumented immigrants without Social Security numbers would be eligible for the "Making Work Pay" tax credit
6. CBO analysis found the majority of stimulus won't take effect for a year and a half
7. Food stamps, unemployment payments are not stimulus
8. The New Deal did not lower unemployment
9. Fiscal stimulus in Japan failed during the "lost decade" of the 1990s
10. The economic recovery bill would amount to spending more than $200K per job created

... get the details on Media Matters after the click.