Wednesday, February 17, 2010

One Year Later: Stimulus Recovery Plan a Success

Has it been a year already?

Last year, on Feb 17, 2009, President Obama signed the Recovery Act, also known as the stimulus bill, which has proven to be quite effective. It has created or saved about 2 million US jobs and has been sanctioned by economic experts on both sides of the aisle. It has taken the US economy, which was like a runaway train on the steepest decline in 80 years, heading into another Great Depression -- and slammed on the emergency brakes.

As you can see in the graph above (provided by Organizing for America with statistics from the US Department of Labor), job loses increased month by month during the final Bush/Cheney year. Just before walking out the door, Bush and Cheney presided over a loss of more than 700,000 jobs in December of 2008 alone.

You can see the first Obama year is essentially a mirror-image of the last Bush/Cheney year. Where their year gets progressively worse each month, President Obama's first year shows progress each month in combating the mess he inherited.

You can click on the graph above to make it more easily readable. And feel free to send a link of this blog to anyone you like!

From Free Republic:

* Cut taxes for 95 percent of working families through the Making Work Pay tax credit

* Cut taxes for small businesses

* Provided loans to over 42,000 small businesses Funded over 12,500 transportation construction projects nationwide, ranging from highway construction to airport improvement projects

* Made multi-billion dollar investments in innovation, science and technology that are laying the foundation for our 21st century economy

* Provided critical relief for state governments facing record budget shortfalls, including help to prevent cuts to Medicaid and creating or saving over 300,000 education jobs

* Economists on the left and the right have stated that the Recovery Act has helped avert an even worse economic disaster.

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