December 11, 2009

Did the Stimulus Create Jobs?

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This chart provides some evidence that the first stimulus has failed to deliver on the promises made by the administration—namely, to stop unemployment growth and promote job creation. Finally, consider the Congressional Budget Office’s statement on page 9 of its report, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output as of September 2009, that “it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.” It seems clear that for the sake of taxpayers and for the sake of job creation, a second stimulus is absolutely the wrong idea.