{"id":2972,"date":"2010-05-26T14:45:27","date_gmt":"2010-05-26T19:45:27","guid":{"rendered":"http:\/\/lincolndemocrat.com\/?p=2972"},"modified":"2017-03-02T00:39:48","modified_gmt":"2017-03-02T05:39:48","slug":"the-cbo-on-the-arra","status":"publish","type":"post","link":"https:\/\/lincolndemocrat.com\/?p=2972","title":{"rendered":"The CBO on the ARRA"},"content":{"rendered":"<p>To the best of my knowledge the CBO (Congressional Budget Office) is still considered one of the most non partisan analysts of the American Economy. <\/p>\n<p>Among other things <a href=\"http:\/\/cboblog.cbo.gov\/?p=967\">here&#8217;s what they conclude<\/a> the result of Obama&#8217;s ARRA (American Recovery and Reinvestment Act) has been:<\/p>\n<blockquote><p>CBO estimates that in the first quarter of calendar year 2010, ARRA&#8217;s policies:<br \/>\nRaised the level of real (inflation-adjusted) gross domestic product (GDP) by between 1.7 percent and 4.2 percent,<br \/>\nLowered the unemployment rate by between 0.7 percentage points and 1.5 percentage points,<br \/>\nIncreased the number of people employed by between 1.2 million and 2.8 million, and<br \/>\nIncreased the number of full-time-equivalent (FTE) jobs by 1.8 million to 4.1 million compared with what those amounts would have been otherwise. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)<br \/>\nThe effects of ARRA on output and employment are expected to increase further during calendar year 2010 but then diminish in 2011 and fade away by the end of 2012.\n<\/p><\/blockquote>\n<p>YUP. Its left a legacy of debt that will have to be retired by Americans but that should be easier with a functioning world wide economy than a ten year world wide depression.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To the best of my knowledge the CBO (Congressional Budget Office) is still considered one of the most non partisan analysts of the American&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,5,84],"tags":[],"class_list":["post-2972","post","type-post","status-publish","format-standard","hentry","category-deficit-spending","category-democratic-heroes","category-economics"],"_links":{"self":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/2972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2972"}],"version-history":[{"count":1,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/2972\/revisions"}],"predecessor-version":[{"id":20563,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/2972\/revisions\/20563"}],"wp:attachment":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}