Obama's 2009 stimulus is still boosting jobs
In its latest quarterly report, the agency said the law's combination of aid to states and localities, public works projects, tax cuts...
From USA Today
The $825 billion economic stimulus law signed by President Obama in February 2009 is still having a positive impact on the economy some 30 months later, according to the nonpartisan Congressional Budget Office.
In its latest quarterly report, the agency said the law’s combination of aid to states and localities, public works projects, tax cuts and other spending increased the number of people with jobs by 1 million to 2.9 million between April and June of this year.
It said the law lowered the unemployment rate for that quarter by 0.5 to 1.6 percentage points — meaning the rate could have been above 10% without the law’s stimulative provisions. And it said the law boosted economic growth in that quarter by 0.8% to 2.5%.
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