March 3, 2009
CBO Says Stimulus Will Create Jobs
The economic recovery law enacted last month could create up to 3.6 million jobs by the end of 2010, equaling the Obama administration’s claim the measure will create 3.5 million jobs in that time, according to a final cost estimate of the legislation released Monday by CBO. For job creation, CBO estimates the bill could create from 0.9 million to 2.3 million jobs by the end of 2009 and from 1.2 million to 3.6 million jobs by the end of 2010, with more jobs created than declining. On economic growth, CBO estimates a boost in GDP of 1.4 percent to 3.8 percent by the end of 2009, 1.1 percent to 3.4 percent by the end of 2010, and 0.4 percent to 1.2 percent by the end of 2011 — with a small possible decline beginning in 2015.