Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From October 2009 Through December 2009
"The American Recovery and Reinvestment Act of 2009 (ARRA) contains a variety
of provisions intended to boost economic activity and employment in the United States.
Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on
the reports filed by certain recipients of funding under ARRA that detail how many jobs were
created or retained through funded activities. This CBO report fulfills that requirement. It
also provides CBO’s estimates of ARRA’s overall impact on employment and economic output
in the last quarter of calendar year 2009. Those estimates—which CBO considers more comprehensive
than the recipients’ reports—are based on evidence from similar policies enacted in
the past and various economic models..."