Economics21 has updated the graph produced in 2009 by Christina Romer and Jared Bernstein to justify the Obama Administration’s stimulus package. Economics21 characterizes itself as nonpartisan but judging by its roster is pretty darned conservative. However, not batshit crazy conservative which James Joyner assures me is a technical political science term.
The red line dots are the update and constitute the real-life results. I think the most charitable comment you can make is that their model was wrong.
Read the whole thing. They also link to a report that suggests that the stimulus resulted in a net loss in jobs.
Right now my position on stimulus packages (defined as debt-financed spending other than via the tax code) is that, while I still believe that a well-timed and well-constructed stimulus package could produce actual economic stimulus just as Lord Keynes advised us eighty years ago, our political system is incapable of producing a well-timed and well-constructed stimulus package.