President Barack Obamas 2009 economic stimulus bill which was passed in Congress during the first month of his Administration and which received opposition from all but three Congressional Republicans has thus far resulted in the employment for 5 million or more Americans according to the Congressional Budget Offices 2011 third quarter ARRA accounting report released on Tuesday.
The American Recovery and Reinvestment Act (ARRA) was passed and enacted in February of 2009 and contained approximately $800 billion in stimulus programs, tax cuts and tax incentives to help the economy, which at the time was losing almost one million jobs a month.
In the CBO report, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from July 2011 Through September 2011, a breakdown by year shows that the ARRA created or saved from 5 million to 25.4 million jobs from March 2009 through September 2011, as follows:
2009:a low estimate of .9 million jobs to a high estimate of 3.6 million jobs
2010:a low estimate of 2.6 million jobs to a high estimate of 13.2 million jobs
2011:a low estimate of 1.5 million jobs to a high estimate of 8.6 million jobs
In addition, according to the CBO, the stimulus is expected to help create or save another .3million to 2 million jobs in the fourth quarter of 2011, another .8 million to 4.6 million jobs in 2012.
CBO states Obama economic stimulus created or saved 5 million or more jobs - National liberal | Examiner.com
The American Recovery and Reinvestment Act (ARRA) was passed and enacted in February of 2009 and contained approximately $800 billion in stimulus programs, tax cuts and tax incentives to help the economy, which at the time was losing almost one million jobs a month.
In the CBO report, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from July 2011 Through September 2011, a breakdown by year shows that the ARRA created or saved from 5 million to 25.4 million jobs from March 2009 through September 2011, as follows:
2009:a low estimate of .9 million jobs to a high estimate of 3.6 million jobs
2010:a low estimate of 2.6 million jobs to a high estimate of 13.2 million jobs
2011:a low estimate of 1.5 million jobs to a high estimate of 8.6 million jobs
In addition, according to the CBO, the stimulus is expected to help create or save another .3million to 2 million jobs in the fourth quarter of 2011, another .8 million to 4.6 million jobs in 2012.
CBO states Obama economic stimulus created or saved 5 million or more jobs - National liberal | Examiner.com