Obama stimulus put between 1.4 million and 3.6 million to work in the third quarter of this year

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November 24, 2010

(Reuters) - The massive U.S. stimulus package, widely panned by voters, injected life into the otherwise-sluggish economy between July and September, the nonpartisan Congressional Budget Office said on Wednesday.

The American Recovery and Reinvestment Act put between 1.4 million and 3.6 million to work in the third quarter of this year, a time when more than 15 million Americans were unemployed, CBO said.

It also boosted national output by between 1.4 percent and 4.1 percent during that time, the CBO said.

The CBO's estimates have consistently shown that the $814 billion package of tax cuts, state aid, construction spending and enhanced safety-net provisions has blunted the impact of the worst U.S. recession since the 1930s.

(interesting note) Direct spending on highway construction, water-system upgrades and energy efficiency were among the most effective, the CBO said, while tax breaks for businesses and higher-income people cost more in lost revenues than they made up for in increased economic activity.


read: http://www.nytimes.com/reuters/2010/11/24/business/business-us-usa-economy-stimulus.html?_r=2&hp=&pagewanted=print

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1. The unemployment rate, currently 9.6 percent, would have been between 10.4 percent and 11.6 percent

. . . without the Recovery Act, the CBO said.

The stimulus created the equivalent of 2 million to 5.8 million jobs during the third quarter as part-time workers shifted to full-time work, or employers offered more overtime work.

http://www.reuters.com/article/idUSTRE6AH6CV20101124

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2. .

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3. President Obama saved my job with the Cash for Clunkers program.

I was laid off for six weeks and after the Cash for Clunkers program went into effect, I been called back to work and working overtime ever since. Republicans have never understood that demand or customers is what create jobs. I have never gotten a job from a rich man, it's always been the customer who has given me the job.