Shyamsunder Panchavati

Shyamsunder Panchavati
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Tuesday, February 16, 2010

Obama's Tales of recovery in jobs in economy,How far,How near Truth?


The road to recovery
One year in, the evidence is clear – and growing by the day – that the
Recovery Act is working to cushion the greatest economic crisis since
the Great Depression and lay a new foundation for economic growth.
• According to the nonpartisan Congressional Budget Office, the Recovery Act is already
responsible for as many as 2.4 million jobs through the end of 2009
• As a result, job losses are a fraction of what they were a year ago, before the Recovery Act began
The American Recovery and Reinvestment Act:
• 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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