Detailed text transcripts for TV channel - MSNBC - 20111020:

Detailed text transcripts for TV channel - MSNBC - 20111020:11:31:00

that. it had some infrastructure, had some short run things. if you look at the cash for clunkers or first home buyer tax credit. they were geared to try to shift it from 2010 into 2009. given it's taken this long, i don't think you would do that short stuff. >> just for clarity, when the administration came in and did the stimulus, however big it was, too big, too small, how much was the economy shrinking then? when folks were -- >> it was at minus 9%. at the time we thought it was around minus 3.5%. and it wasn't just us -- >> minus 3.5%. >> which would be pretty bad, but minus 9% is worse. >> and we found out minus 9% -- >> just this year. last year it got revised to minus 6%. >> and that's why the stimulus, when people say, the stimulus doesn't work, where are the jobs? >> i think it's mainly the baseline.

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