(Congressional Budget Office:) Stimulus boosted GDP by up to 4.5 percent in 2Q 2010

[kpete]

Source: Reuters


WASHINGTON | Tue Aug 24, 2010 3:23pm EDT

WASHINGTON (Reuters) - The massive stimulus package boosted real GDP by up to 4.5 percent in the second quarter of 2010 and put up to 3.3 million people to work, the nonpartisan Congressional Budget Office said on Tuesday.

CBO's latest estimate indicates that the stimulus effort, which remains a political hot potato ahead of the November congressional elections, may have prevented the sluggish U.S. economy from contracting between April and June.

Economists surveyed by Reuters expect that revised numbers due out on Friday will show that the economy grew at an anemic 1.4 percent pace during that time period -- less than the boost of at least 1.7 percent that the stimulus provided, according the CBO estimate.

The stimulus package, passed in March 2009 in the midst of the deepest recession since the 1930s, raised employment by between 1.4 million and 3.3 million jobs during that time period, CBO estimated.




Read more: http://www.reuters.com/article/idUSTRE67N55X20100824

[USA_1]

1. Good News!

Now the Dems need to use this in the campaigns that will be starting very soon. Don't hold back!!

[SpiralHawk]

2. "Dammit all to Hell. This sucks." - The RHAA*

- Republicon Homelanders Against America

[underpants]

3. Facts

what about what the talking heads BELIEVE?!?!?!?

[erodriguez]

4. If the stimulus did that much good yet we are still in terrible shape,

it is going to be a long time before we recover.

Especially considering that most of the stimulus has already been allocated.