CBO just came out with their assessment of the Recovery package. CBO had some very positive things to say about the effect of the Recovery package.
http://thehill.com/...
CBO came out with their assessment Monday night and they have stated that the Recovery package created or saved from 600,000 to 1.6 million jobs.
In addition to that the CBO has stated that the GDP in the 3rd quarter is up to 3.2% higher than it would have been if there was no stimulus package. Granted that the GDP was 2.8%, that means that without the stimulus package we may have been still in negative growth.
Looking at the actual amounts spent so far (where identifiable) and estimates of the other effects of ARRA on spending and revenues, CBO has estimated the law’s impact on employment and economic output using evidence about how previous similar policies have affected the economy and various mathematical models that represent the workings of the economy. On that basis, CBO estimates that in the third quarter of calendar year 2009, an additional 600,000 to 1.6 million people were employed in the United States, and real (inflation-adjusted) gross domestic product (GDP) was 1.2 percent to 3.2 percent higher, than would have been the case in the absence of ARRA.
The CBO has also stated that the White House assessment of the Recovery package wasn't comprehensive and their analysis is.
Now it is up to the Congress to extend what the Recovery package has started and develop a strong Jobs bill.