This week, the House will vote on the American Recovery and Reinvestment Act, working from priorities shared with President Barack Obama.
A staggering 2.6 million American jobs were lost in the last year of the Bush Administration -- the culmination of a failed economic approach -- one that also doubled our national debt in 8 short years. We need a New Direction.
- create and save 3 to 4 million jobs, rebuilding America, making us more globally competitive and energy independent, and transforming our economy for long-term growth.
- give 95 percent of Americans an immediate tax cut.
- invest quickly into the economy--75 percent in the first 18 months.
The Recovery Plan has unprecedented accountability measures built in--providing strong oversight, an historic degree of public transparency, and including no earmarks.
In a recent analysis of the American Recovery and Reinvestment Act, Mark Zandi, chief economist for Moody's Economy.com and former economic advisor to Republican Presidential Candidate John McCain, provided a table detailing “Fiscal Stimulus Bang for the Buck” [Page 9]. The analysis shows the return to the economy for every taxpayer dollar invested. Some of the highlights:
|Bang for the Buck|