Economic Advisors release Quarterly Report on Stimulus

[sandnsea]

The Council of Economic Advisers released the Quarterly Report to Congress on job creation through the American Recovery and Reinvestment Act. Chair, Christina Romer, spoke with reporters about the 1.5 - 2 million jobs created or saved and called it “truly stunning”.

She said the addition to GDP in the fourth quarter was slightly lower than the 3-4 percent in the third quarter because initial spending, when a project gets “ramped up”, is usually the largest and has the greatest impact. About one-third of the stimulus spending and tax measures have been distributed, about $263 billion, which increases to half if all dedicated projects are included.

The report includes a detailed analysis of the clean energy programs and jobs created by the stimulus, which the President will also discuss in his trip to the Joint Apprenticeship and Training Committee Center in Maryland tomorrow.

We estimate that roughly $90 billion of the total $787 billion of tax cuts and spending in the Act are related to clean energy. As of 2009:Q4, roughly $5 billion has been outlayed or received as tax cuts, and another $26 billion has been obligated but not yet outlayed. These investments have the potential to jumpstart the transition of the American economy to greater efficiency and cleaner energy.
As shown in Table 13, CEA’s analysis suggests that the outlays and tax credits for clean energy to date have saved or created 52,000 clean energy jobs as of 2009:Q4 and another 11,000 induced jobs throughout the economy.
This employment impact is expected to increase substantially over time. A job-year is one job for one year, and provides a sensible way of cumulating the employment impact of a program over an extended period. We estimate that clean energy investments in the ARRA will create more than 700,000 job-years of employment by the end of 2012.

LINKS:
http://obama-mamas.com/blog/?p=949

[Cha]

1. I'm stunningly happy that this

is such good news for our country after the relentless downer of the last 8 years.

Thanks sandnsea~

[Tarheel_Dem]

2. This was being discussed on NPR today, and surprisingly positive...

commentary from all the contributors. This is great news, and I hope it continues so that people can actually see changes in the quality of their own lives.

[FrenchieCat]

3. Thank you for the valuable information.....

There is so much going on, it is hard to keep up with it...
and of course, most in the news are not reporting it,
as they are stuck on stupid....
and some of the Dems here are stuck on doom....
and interpreting every economic indicator that is showing positive sign,
as fake....cause they lost trust of Government via the last administration,
and some are just so cynical, they don't believe that this President
has their backs....but indeed he does, and they will know it, soon....
even if they won't ever admit it.