Over the past year, I've been slowly trying to understand what is going on with the economy. Something I've recently discovered that makes a lot of sense to me are lagging and leading economic indicators.
What I'm not understand is why people are saying the economic stimulus didn't or isn't working. Most leading indicators between 1Q 2009 and now suggest it is working and lagging ones are going to take at least a year to manifest themselves.
What are people basing statements that the stimulus was a waste on? Is there something else at work that I don't know?