Tuesday, January 24, 2012

Post-Debate Fact-Checking: Stimulus Created 1.2-3.7 Million Jobs Last Year

The next time you hear a righty radio talker or Republican candidate jabber about the stimulus and its impact on hiring, remember these numbers that CNN published right after Monday's GOP debate:

ROMNEY: President Barack Obama's $814 billion economic stimulus program "didn't create private-sector jobs."

THE FACTS: There is no support for that assertion. Between 1.2 million and 3.7 million full-time-equivalent jobs were created last year because of the stimulus, according to an August 2011 report from the nonpartisan Congressional Budget Office.

Meanwhile, another government report found the stimulus program has paid $34.5 billion in tax incentives to businesses, including $260 million to hire younger, unemployed war veterans.

Economists debate whether the stimulus lived up to its promise or was worth the cost, but no one seriously argues that it created no jobs. Many believe it helped to end the recession even while falling short of its employment goals.

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