CBO: Stimulus produced up to 2.1M jobs

by Associated Press

Published: February 24,2010

Tags: ARRA, employment, jobs, recession, stimulus, unemployment

WASHINGTON — A new report by congressional economists says the economic stimulus law produced jobs for 1 million to 2.1 million people by the end of last year.

The nonpartisan Congressional Budget Office study says the $862 billion stimulus added between 1.5 to 3.5 percentage points to the growth of the economy. The controversial stimulus law combined tax breaks for individuals and businesses with lots of government spending.

The report reflects agreement among economists that the measure boosted the economy. But the wide range of estimates means it won’t resolve the debate over how effective the stimulus has been.

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