How the stimulus plan gave the economy a big boost.

2-24-2010
The Congressional Budget Office is an independent organization.
The Congressional Budget Office estimates that the stimulus plan (the ARRA) has created up to 2.1 million jobs! And it will create more in the time to come!
This happened in spite of all the sabotaging of the plan by the GOP.
The stimulus also boosted economic growth in the fourth quarter.
Real GDP (Gross Domestic Product) was 1.5 to 3.5% higher in the fourth quarter "than would have been the case in the absence of ARRA".
The CBO also points at the fact that the stimulus had a considerable multiplier effect. But I will not go too deep into this, because that would be too confusing for the people who were against the stimulus. They probably didn't have economics in their package in high school, and if they had, they were probably sleeping anyway.
Personally, I think that this is a big victory for the Obama administration.
For many conservatives (not all, there are also reasonable and decent conservatives out there) this is bad news. For the average American worker it is good news.
It is a pity that it was politically not feasible (read: the GOP was against it!) to have a bigger stimulus plan. With a bigger stimulus plan, many more people would still have their job. It would have prevented a lot of the misery that we see now.
Link: CBO-blog
If you want to read the whole report: Report

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