But most reputable economists say it did. According to the Congressional Budget Office, the stimulus added anywhere from 500,000 to 3.3 million jobs and boosted GDP by between 1 and 4.5 percent. Indeed, within weeks of the stimulus going into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing, and it has continued to do so for twenty-three straight months, creating a total of 3.7 million private-sector jobs. On the first key testwhether it helped the economy when the economy needed it most the stimulus passed. And if the current recovery continues to pick up steam, then the stimulus will be remembered as having helped lead America out of the Great Recession.<quoted text>Dude, what I tell you about coming in here. This forum is not for Obama loving deadbeats like yourself. Go away you loser
But the potential significance of the stimulus may go even beyond that. First off, thanks to innovative management, the administration has been able to spend $787 billion with minimal fraud.(By comparison, FDRs early New Deal spending was so fraught with waste and abuse that the term boondoggle arose to describe it.) Not only that, but the way the administration has chosen which projects to fund has itself been revolutionary. Instead of spending all the money in the usual mannerby formula, with each state and congressional district getting its fair sharethe administration used a sizeable portion of the stimulus to create a dozen or more giant competitive grant programs. Potential recipients, be they state and local governments, nonprofits, or corporations, had to vie for the money by proposing their own entrepreneurial strategies for meeting federal goals, as well as procedures to measure the results of their efforts.