10/08/2012 08:31 am ET Updated Dec 08, 2012

Simon Johnson: Obama Administration Handed 'A Political Trap'

Very few people will admit to being pleased with the fiscal stimulus enacted by the Obama administration during its first days in office.

To those on the left, the stimulus was too timid. A bolder, bigger package would have done more to save jobs and turn the economy around. More spending on infrastructure and in support of cash-strapped local governments should have been the priority.

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