Labor Day 2011 News: The Recovery Act is still creating and saving jobs.

[ClarkUSA]

CBO’s Estimates of ARRA’s Impact on Employment and Economic Output for the Second Quarter of 2011

As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which is often referred to as the economic stimulus package.

CBO’s Estimates of ARRA’s Impact on Employment and Economic Output

CBO estimates that ARRA’s policies had the following effects in the second quarter of calendar year 2011 compared with what would have occurred otherwise:

They raised real (inflation-adjusted) gross domestic product by between 0.8 percent and 2.5 percent,
Lowered the unemployment rate by between 0.5 percentage points and 1.6 percentage points,
Increased the number of people employed by between 1.0 million and 2.9 million, and
Increased the number of full-time-equivalent (FTE) jobs by 1.4 million to 4.0 million compared with what would have occurred otherwise. (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).

Source: http://www.cbo.gov/doc.cfm?index=12385

Hat Tip to Pro President Obama Blog for checking out the facts: http://propresobama.org/2011/08/30/pres-obamas-2009-stimulus-still-boosting-jobs/

[CakeGrrl]

1. Rec'd to zero so far.

Good news for the President? BAAAAD news on DU.

:crazy:

[Peacetrain]

2. K and R and up to one..