The Congressional Budget Office (CBO) said Tuesday that President Obama’s 2009 stimulus package continues to benefit the struggling economy.
The agency said the measure raised gross domestic product by between 0.3 and 1.9 percent in the third quarter of 2011, which ended Sept. 30. The Commerce Department said Tuesday that GDP in that quarter was only 2 percent total.
CBO said that the stimulus also lowered the unemployment rate by between 0.2 and 1.3 percentage points and increased the number of people employed by between 0.4 million and 2.4 million. Link
The real flaw in the stimulus package was that it wasn’t big enough to get the job done.
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