Obama Stimulus Created As Many As 2 Million Jobs Recently, Report Says

Reinvestment Act Obama jobsThe $800 billion American Recovery and Reinvestment Act that President Obama signed into law within weeks of taking office in 2009 has been criticized by some as wasteful government spending and by others as too little to be effective.

When it comes to keeping and creating employment, however, the package does appear to have done the job. A government report released this week suggests that the stimulus plan was responsible for the creation of 300,000 to 2 million additional jobs during the three months that ended December.

Further, projections show that as many as 1.5 million more people will have jobs during the first three months of 2012 because of the plan, according to analysis by the nonpartisan Congressional Budget Office (via the Center on Budget and Policy Priorities).

In addition to saving and creating jobs, the Recovery Act has increased the number of hours Americans worked. Without the stimulus, many full-time workers would have been reduced to part-time and there would have been less overtime work available.

The stimulus package was also responsible for lowering the nation's unemployment rate, which stood at 8.5 percent in December, from 0.2 percentage points to as much as 1.1 percentage points, according to CBO calculations.

The CBO is required by law to report its estimates on the number of jobs created by the Recovery Act.

The CBO's report also notes that the stimulus was responsible for boosting the nation's output of goods and services, known as gross domestic product, by 0.2 percent to 1.5 percent in the final months of 2011.

Last month, the Department of Commerce reported that its initial reading of fourth-quarter GDP stood at 2.8 percent. The agency will release an updated estimate, based on more complete data, next week.

The CBO report also found the stimulative effect on employment caused by the Recovery Act waned at the end of 2010 and continued to do so last year. Still, it says, the legislation will likely increase the number of jobs this year by 200,000 to 1.3 million.

The CBO estimates the act will also increase the nation's rising budget deficit by about $831 billion during the 10 years ending 2019.


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JOHN

Employment is great. Some people just don't want to work, and nothing anybody does will change that fact. And, "creating" jobs by hiring more bureauacrats to shuffle government paperwork is a drain on hard-working taxpayers. President Obama does not want high unemployment rates, regardless of his political affilliation, because no country can survive massive unemployment. He wants to leave office with positive marks, and not having high unemployment rayes making him look bad.
Regardless of what liberals will tell you, profitable American free enterprise is the key to America's success as without it, we have no hope. Free enterprise is the cornerstone of Democracy, and of our ability to rise above the ashes of poverty into the sunlight of success.

April 18 2013 at 11:33 PM Report abuse rate up rate down Reply
jade753

So what happens Mr President when all the people that are still unemployed, what do we do when the checks stop. Will you help us then.
The reason that unemployment went down , is because there checks stoped.
Are there any real people that you know that have nothing. I mean NOTHING.
Someone help us !!!!!!

March 04 2012 at 2:07 PM Report abuse rate up rate down Reply
dadada9

HOPE AND CHANGE.

HOPE there is CHANGE from this $100 dollar bill when I fill up my car with gas.

HOPE I have enough CHANGE to buy my family a loaf of bread.

HOPE I can CHANGE careers, because I have been an unemployed semiconductor engineer for two years. ( Most certainly not accounted for in this report, I never collected unemployment)

HOPE there are enough aware voters to CHANGE the residence of our fearless leader after elections.

Wake Up America.

February 27 2012 at 6:39 PM Report abuse rate up rate down Reply
1 reply to dadada9's comment
steverhsb

Just show some appreciation and move on. It was a business cycle boom. We were heading at 30% or more unemployment. Obama made hard decisions that saved us. Not just you, but I can't believe I writing to the negative scum in this world.

March 02 2012 at 4:38 AM Report abuse rate up rate down Reply
JamesR

Spoken like a real communist piece of **** requiring people to read their propaganda. Why don,t you do some real reporting David Schepp & compare the jobs that were created without ANY stimulis in Bill Clintons 1st term compared to the disaster of the $800 billion wasted in the dark knights 1st term.

February 26 2012 at 6:10 PM Report abuse rate up rate down Reply
1 reply to JamesR's comment
AMADavie

You Racist fascist! not even with facts can you convince ignorant idiots like you

February 27 2012 at 6:23 PM Report abuse rate up rate down Reply
klile

Every Tea Bagger in the US should be required to read this article. Of course, it probably wouldn't do much good. They would simply say "Obama is a Marxist." I am sure the Republican candidates will call this "liberal media distortion."

February 26 2012 at 5:52 PM Report abuse -1 rate up rate down Reply
1 reply to klile's comment
Doug

Your use of the term "Tea Bagger" demonstrates you are not serious at all about a real debate but only wish to sound "with it" with name calling.

Besides, your last two sentences are mostly true.

February 26 2012 at 6:50 PM Report abuse rate up rate down Reply
JamesR

I don,t think the GOP took over both house&senate until 96. The bottom line is I don,t care who had what. Bill Clinton was a gifted politician with a love for this country that is just not there with this shadowy figure we,ve been saddled with over 3 years now. W may not have been the sharpest knife in the drawer but his patriotism could not be questioned. When the gas price hit $4.00 back in 07 W announced offshore & land drilling permits were going to be fast tracked. The price fell like a stone. Not with this jackass.He does the opposite & says no to keystone and slow walks drilling permits.All in the name of hair brained alternative energy ideas that line the pockets of his contributers.

February 26 2012 at 5:37 PM Report abuse rate up rate down Reply
Steve Gaichin

Interesting, According to the GOP we have lost twice that many jobs! Somebody is lying to us. To be honest, under Bill Clinton we had 8 years of relative peace and prosperity! Now the GOP will tell us that was because they had control of both houses................ Then how do they explain the 8 year horror show assault on the working class Americans after W took over?

February 26 2012 at 5:10 PM Report abuse rate up rate down Reply
1 reply to Steve Gaichin's comment
Beautiful

The democrat controlled congress

February 26 2012 at 5:39 PM Report abuse -1 rate up rate down Reply
1 reply to Beautiful's comment
Kathie

Since the republicans controlled both houses of congress during Bush's first 6 years - you are completely and totally WRONG!

February 26 2012 at 6:03 PM Report abuse -1 rate up rate down
Doug

The CBO is about as reliable as... well... the Obama administration.

February 26 2012 at 4:27 PM Report abuse +1 rate up rate down Reply
JamesR

What,s really strange is Bill Clinton in 1993 soon after he took office he requested a 16 billion dollar economic stimulis package that was voted down & never enacted. Four years later Clinton was re elected fairly easily on the strength of a non stimulis motivated economy & a budget surplus. What a contrast to the chicago thug punk way of doing things that has led to a doubling of gas prices,record unemployment,record budget deficits,& a ass kissing tour like never seen before not to mention 17 lavish vacations so far all on the working mans dime. Do we want more of the same ?

February 26 2012 at 4:25 PM Report abuse -1 rate up rate down Reply
Patagonia

Prove it. I don't believe it.

February 26 2012 at 4:24 PM Report abuse +1 rate up rate down Reply

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