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News About the American Recovery and Reinvestment Act

USA TODAY - Economists agree: Stimulus created nearly 3 million jobs

The White House says the multiyear $814 billion stimulus program passed by Congress in 2009 boosted employment by 2.5 million to 3.6 million jobs and raised the nation's annual economic output by almost $400 billion. A recent study by two prominent economists generally agrees, crediting the pump-priming with averting 'what could have been called Great Depression 2.0.'

Eighteen months later, the consensus among economists is that the stimulus worked in staving off a rerun of the 1930s.

It's no surprise that the administration would proclaim its own policies a success. But its verdict is backed by economists at Goldman Sachs, IHS Global Insight, JPMorgan Chase and Macroeconomic Advisers, who say the stimulus boosted gross domestic product by 2.1% to 2.7%.

The fiscal stimulus created 2.7 million jobs and added $460 billion to gross domestic product. Unemployment would be 11% today if the stimulus hadn't been passed and 16.5% if neither the fiscal stimulus nor the banks' rescue had been enacted, according to Zandi and Blinder. 'It's pretty hard to deny that it had a measurable impact,' Zandi said. [8/30/10]

The Delaware County Daily Times (Pennsylvania) - Editorial: Stimulus bill's results reason to celebrate

For the first time in many years, there is something for workers of the nation to celebrate on Labor Day. According to the Congressional Budget Office, a non-partisan watchdog of the U.S. economy, the estimated impact of the American Recovery and Reinvestment Act in the second quarter of 2010 has been positive.

Congressional Budget Office officials report that from April through June 2010, the recovery act lowered the unemployment rate by between 0.7 and 1.8 percentage points.

It increased the number of people employed by between 1.4 million and 3.3 million.

It increased the inflation-adjusted gross domestic product -- the total amount of goods and services produced in this country -- by between 1.7 percent and 4.5 percent.

U.S. Rep. John Boehner of Ohio, the current House Republican leader, last week indicated to the City Club of Cleveland that he would like to return to the policies of the Bush administration. And, Boehner would like the president to fire his economic team, despite the fact that 630,000 private sector jobs were created under the Obama administration just between January and July. [8/30/10]

Asbury Park Press (New Jersey) - Teens plant seeds of volunteerism throughout Ocean County

[DISTRICTS MENTIONED: John Adler (NJ-3) and R-Chris Smith (NJ-4): Voted NO on Recovery Act]

Taking part in the Summer Youth Team Nutrition Community Gardens program, young adults helped build vegetable gardens at affordable-housing complexes around the county.

This is the first time OCEAN Inc., a nonprofit organization that was created in the 1960s to combat poverty throughout the county, is conducting the community garden program, which is funded by a $290,000 grant from the American Recovery and Reinvestment Act.

70 young adults are working on the gardens as summer jobs at 15 sites ranging from Lakewood to Tuckerton. [8/27/10]

KGO ABC-7 (California) - Stimulus funding used to improve SFO runways

[DISTRICT MENTIONED: Jackie Speier (CA-12)]

Take offs and landings are going to be much smoother at San Francisco International Airport.

Federal and local officials Friday celebrated the completion of a runway improvement project.

More than $14.5 million went into leveling and repaving two runways and two taxiways. The money for the project came from last year's American Recovery and Reinvestment Act.

This is just the first of several projects financed by stimulus dollars at the three Bay Area airports. [8/27/10] (Michigan) - VA Ann Arbor Healthcare System's Ann Arbor Medical Center receives $6.5 million

More than $6.5 million in American Recovery and Reinvestment Act funds will help pay for improvements to the VA Ann Arbor Healthcare System's facility in Ann Arbor.

The funds will help pay for renovations to the facility's Infusion Center and the addition of about 15,340 square feet to the Emergency Department and Urgent Care, according to the release.

Other improvements include the construction of a new lobby, reception area and adjoining ambulance entrance, new treatment and exam rooms, observation and trauma rooms and staff work areas. [8/28/10]

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