The President's Council of Economic Advisors (CEA) has been tasked with reporting to Congress on a quarterly basis on the effects of the Recovery Act. The report details spending up to the end of the 1st quarter of calendar 2010, as well as job estimates and analysis of trends.
Through the first quarter of 2010, the CEA estimates that ARRA is responsible for 2.2 - 2.8 million jobs. Roughly half of these jobs are due to tax cuts and income supports. But . . .keep in mind the proviso listed by the CEA: "Identifying the impact of policy actions is inherently difficult, and the estimates must be understood to be subject to large margins of error." This certainly sounds more professional than "This is our best guess," although the meaning is eerily similar.
Wednesday, April 21, 2010
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