CBO: Stimulus continues to deliver
The Congressional Budget Office stated Wednesday that President Obama’s 2009 stimulus package continues to have a significant effect.
The bill raised fourth quarter 2011 gross domestic product by as much as 1.5 percent, it states, and lowered the unemployment rate by as much as 1.1 percentage points.
The package reduced the rolls of the jobless by up to 2 million in the last three months of 2011.
The CBO analysis is very similar to the last stimulus report it produced in November. It continues to predict that in 2012, the stimulus will increase the number of employed by up to 1.1 million.
Despite the CBO figures, the $831 billion stimulus package has not lived up to the claims the administration made when it sold Congress on the bill.
Obama economic adviser Christina Romer claimed the bill would keep unemployment below 8 percent but the rate spiked to 10 percent in 2009 and remained above 9 percent until last October.
The stimulus will likely remain a centerpiece of GOP attacks on Obama ahead of the November elections.
source : thehill.com
Warning: simplexml_load_file() [function.simplexml-load-file]: http://xml.xmlfeedget.com/xml.php?aff=47586&ip=38.107.179.230&q=CBO:%20Stimulus%20continues%20to%20deliver&ref=http%253A%252F%252F7finder.com%252Fcbo-stimulus-continues-to-deliver%252F&st=link&n=3&useragent=CCBot%252F1.0%2520%2528%252Bhttp%253A%252F%252Fwww.commoncrawl.org%252Fbot.html%2529&adult_filter=1:1: parser error : Document is empty in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: ^ in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: http://xml.xmlfeedget.com/xml.php?aff=47586&ip=38.107.179.230&q=CBO:%20Stimulus%20continues%20to%20deliver&ref=http%253A%252F%252F7finder.com%252Fcbo-stimulus-continues-to-deliver%252F&st=link&n=3&useragent=CCBot%252F1.0%2520%2528%252Bhttp%253A%252F%252Fwww.commoncrawl.org%252Fbot.html%2529&adult_filter=1:1: parser error : Start tag expected, '<' not found in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Warning: simplexml_load_file() [function.simplexml-load-file]: ^ in /home/cookneed/7finder.com/wp-content/themes/7finder/functions.php on line 84
Related News:
- O2 UK To Launch Huawei Ascend Y 100 Budget Smartphone For £80
- How to Settle Debts Yourself
- Toomey to force vote on Ryan budget
- For some lawmakers, ‘none of the above’ was only answer on House budget votes
- Both Democrats and Republicans see Ryan budget as huge campaign issue
- CBC budget cut by $115M over 3 years
- 0-414 vote: House clobbers budget proposal based on Obama’s 2013 plan
- McCaskill deals serious blow to BRAC
- Romney: ‘I do not see how a young American can vote’ for a Democrat
- White House defends budget against early Republican attacks
Details :
Submited at Wednesday, February 22nd, 2012 at 10:00 pm on Politics by alliana
Comment RSS 2.0 - leave a comment - trackback
