CBO Reports Stimulus Created Up To 2.1 Million Jobs In 4th Quarter

The CBO report shows that the stimulus did create up to 2.1 million jobs in the fourth quarter. ABC News summarized the report:

The Obama administration’s $787 billion stimulus bill created up to 2.1 million jobs during the final three months of last year, according to a new report from the non-partisan Congressional Budget Office.

During the fourth quarter of 2009, the stimulus added “between 1.0 million and 2.1 million to the number of workers employed in the United States,” the CBO said.

The stimulus also boosted the country’s economic growth by 1.5 to 3.5 percent during the time period and lowered the nation’s unemployment rate by between 0.5 and 1.1 percentage points…

The effects of the stimulus bill are expected to increase as the year goes on, before falling off in 2011 and fading away by the end of 2012, the CBO noted. The non-partisan research office uses economic models to analyze the stimulus and estimate the program’s impact.

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