Last updated: February 17, 2010 - 8:00am
The White House is releasing its first annual report on the American Recovery and Reinvestment Act on Wednesday, summarizing its progress on the first anniversary of President Obama's signing of the massive, politically contentious economic stimulus package.
Independent arbiters such as the Congressional Budget Office agree that it helped end the recession and added several percentage points to GDP growth, and that it created or saved at least 2 million jobs. But with job losses far deeper in 2009 than the administration expected, the stimulus has not kept unemployment from climbing to 10 percent. Republicans have seized on job-creation tallies reported by stimulus recipients, questioning their reliability. At the same time, Republicans who voted against the bill, as well as Democrats, have touted stimulus spending in their districts.
The package was divided into three main categories:
1) Tax cuts (including $800 for both 2009 and 2010 for most families).
2) Payments, including fiscal aid to states and expanded safety net assistance (such as unemployment benefits, COBRA subsidies and food stamps).
3) Investments in, for example, public infrastructure, energy efficiency upgrades and broadband access.
- Economic stimulus has created or saved nearly 2 million jobs, White House says
- Tracking Stimulus Spending May Not Be as Easy as Promised
- Report Card Due on Stimulus
- Spending Stimulus Money Takes Money
- Government Gets Chance To Prove It Can Work
- Senate Committees Approve Portions of Economic Stimulus Package With Funds for Health Care
- Broadband-Related Stimulus Proposals
- Obama Seeks to Restore Some Stimulus Spending
- House Passes $787B Stimulus Legislation
- Power of Stimulus Slow to Take Hold
- City libraries shut out of broadband stimulus money?
- Positive review of stimulus package
- Senate, House Begin Talks on Stimulus
- Groups say stimulus lobbying rules are too strict
- Congressional Internet Protection Starts Now