Friday, September 16, 2011

The Stimulus Hasn't Worked?

"The Stimulus hasn't worked"? I have heard several make this false claim. I have seen Paul Ryan and others take a sentence here and there from CBO reports then mangle the entire message of the reports to suit their own agenda. The CBO is either credible or not credible. According to the CBO, the Stimulus Package, overall, has been very effective. There are portions that need to be improved upon but Congress refuses. Here is the most recent reporthttp://www.cbo.gov/ftpdocs/123xx/doc12385/08-24-ARRA.pdf
There are past reports available at http://www.cbo.gov/.

Read for yourself.

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 (GDP) 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 jobs by 
1.4 million to 4.0 million, as shown in Table 1. 
(Increases in FTE jobs include shifts from part-time to 
full-time work or overtime and are thus generally
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