Monday, February 1, 2010

Stimulus update

The white house released the second quarterly report on the economic stimulus bill. The bill, formally known as the American Recovery and Reinvestment Act of 2009 (ARRA), has a large tracking requirement which gives a detailed view of the spending.

The summary press release is here. The report can be read here.

Here are some highlights from the press release:
$263 billion of $787 billion have been spent or deducted from tax receipts. The spending raised GDP by around 2% and increased employment 640,000 jobs. Total mployment was projected to expand by 1.5 to 2 million jobs due to multiplier effects.

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