Obama's Recovery Act: Up to 1.6 Million Jobs Created or Saved

President Obama didn't say he'd create 2 - 3 million jobs. President Obama said he's create or save them. Are jobs being created as quickly as one would hope? Of course not. But, people forget how much worse things would have been had the Recovery Act not been implemented.

From Americans United for Change:

Also see: Recovery Dollars Created Up to 1.6 Million Jobs: CBO
Yesterday, the Congressional Budget Office released its report on the American Recovery and Reinvestment Act’s impact on the economy and employment and found that in the third quarter of 2009, because of recovery dollars, 600,000 to 1.6 million more U.S. workers had jobs; Gross Domestic Product was 1.2 percent to 3.2 percent higher; and the unemployment rate was 0.3 to 0.9 percentage points lower than it would have been if no action had been taken. The report also reinforces that the estimates only capture jobs created by direct spending – they do not measure the “spillover effect” of jobs created or saved indirectly due to higher incomes or increased demand for goods and services.


Bookmark and Share

blog comments powered by Disqus