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    Tuesday, December 01, 2009

    Stimulus Working Pretty Much As Planned, CBO Says

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    By Rex Nutting
    MarketWatch Pulse
       

      WASHINGTON -- The $787 billion fiscal stimulus program approved in February is working pretty much as expected, the Congressional Budget Office said Tuesday. U.S. employment is about 600,000 to 1.6 million higher, and real gross domestic product is about 1.2% to 3.2% higher than they would have been without the stimulus, CBO said. That estimate is nearly identical to the CBO's assessment in March. The CBO based its estimates on long-standing relationships between additional spending and economic growth, rather than relying on incomplete and inaccurate reports from companies awarded federal contracts. Much of the direct government spending in the stimulus bill is yet to come.

      Copyright © 2009 MarketWatch, Inc.

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