President Obama's Economic Stimulus Created 3.3 Million Jobs

According to the Congressional Budget Office, President Barack Obama's stimulus package may have created or saved as many as 3.3 million jobs last quarter and lowered the unemployment rate by as much as 1.8 percentage points. The $814 billion program, known as the American Recovery and Reinvestment Act, or ARRA, probably added between 1.7 percent and 4.5 percent to gross domestic product for the three months through June, the nonpartisan agency said in a recent report. Not bad for someone trying to help an economy recover from a recession that had been in place two years before he assumed the presidential office.

Read more at Bloomberg.

 

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