The paper notes, "that without the Wall Street bailout, the bank, the emergency lending and asset purchases by the Federal Reserve, and the Obama administration’s fiscal stimulus program, the nation’s gross domestic product would be about 6.5 percent lower this year. In addition, there would be about 8.5 million fewer jobs, on top of the more than 8 million already lost; and the economy would be experiencing deflation, instead of low inflation."
Immediately critics will point out that Blinder worked in the Clinton administration and Zandi is a registered Democrat. I would humbly suggest that party affiliation doesn't make someone's research automatically irrelevant.
And I'll note that i haven't read the whole paper, but will be in the next 24 hours to look at some of the assumptions and the models they used. I mean, I should use my bachelors degree for something, right?
Finally, I'll request that people looking to question the conclusions Blinder and Zandi reach base their criticism on the paper and its methodology, not just knee jerk rejection that a registered Democrat couldn't possible comment on the stimulus. Thanks.