Between 600,000 and 1.6 million jobs were created or saved through September as a result of the American Recovery and Reinvestment Act, according to a Congressional Budget Office report.
The data, released Monday, say the real inflation-adjusted gross domestic product was 1.2 percent to 3.2 percent higher than it would have been had the $787 billion stimulus package not passed in February. Also, the stimulus lowered the unemployment by between 0.3 and 0.9 percentage points, according to the report.
Yeah, 10.2 percent unemployment is awful and the Democrats need to pass another jobs bill right away or else. But this proves that spending equals growth equals jobs equals recovery. It's the ridiculousness of the corporate press and the Republicans that put this very basic economic notion into doubt, but don't hold your breath waiting for a retraction of all the red-baiting and concern-trolling we endured last February/March.
Adding... Imagine what a $1 trillion stimulus loaded with more infrastructure would've accomplished.