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It All Depends on Your Definition of “Much”

October 01, 2010

According to The Washington Post, the White House is releasing a new stimulus report today suggesting stimulus is coming in “on time and under budget,” causing Administration officials to boast that “the recovery act has accomplished much of what it set out to do.”  What that means exactly in the context of a trillion dollar spending spree that promised to create 3.7 million jobs, but has been followed by the loss of 2.4 million private sector jobs, is anyone’s guess. But the American people are not fooled by the White House’s efforts to justify Democrats’ failed stimulus plan. The article notes “two thirds of voters agree with” the view that “the stimulus package led to record budget deficits while doing little to improve the economy.” 


“A package in the range that the President-Elect has discussed is expected to create between three and four million jobs by the end of 2010…More than 90 percent of the jobs created are likely to be in the private sector.”
Source: Obama Administration’s January 2009
Romer/Bernstein Report “The Job Impact of the American Recovery and Reinvestment Plan”


“The report serves to verify, he said, that ‘the recovery act has accomplished much of what it set out to do.'”

Jared Bernstein, Chief Economist for Vice President Joe Biden, in “Positive Review of Stimulus Package,” Washington Post, October 1, 2010


Private Sector Jobs when Administration’s Stimulus Passed:

110.254 million (February 2009)

Private Sector Jobs Today:    

107.870 million (August 2010)


-2.384 million jobs

U.S. Department of Labor Bureau of Labor Statistics