|
Tue Nov 22, 2011 at 05:16 PM CST
|
Today the Congressional Budget Office release another report report (PDF) as required by the American Recovery and Reinvestment Act, commonly known as the Stimulus, to score the effectiveness of the Act. The highlights of this report include the following:
The American Recovery and Reinvestment Act Stimulus' Scorecard for 3rd Quarter of 2011:
- Raised real (inflation-adjusted) gross domestic product (GDP) by between 0.3 percent and 1.9 percent,
- Lowered the unemployment rate by between 0.2 percentage points and 1.3 percentage points,
- Increased the number of people employed by between 0.4 million and 2.4 million, and
- Increased the number of full-time-equivalent jobs by 0.5 million to 3.3 million. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
Of course, despite the data that old-fashioned, formerly bi-partisan stimulus packages work in times of recession to soften the economic blow and speed up the recovery, we can expect more denial of the Stimulus' effectiveness from the far right. |
|
|
|
|
|
