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Payroll Tax Holiday

White House: Economy 'Much Brighter' Thanks to Obama

The Obama Administration issued a report Monday – the fifth anniversary of the American Recovery and Reinvestment Act – taking credit for a "significant part" of the bounce-back from one of the worst economic crises since the Great Depression.The paper drafted by the Executive Office of the President said The Recovery Act pushed by President Barack Obama created on average 1.6 million jobs per year through 2012. It also estimates the legislation raised gross domestic product, a broad-level gauge of economic activity, by between two and three percent from late 2009 through mid-2011."Thanks in significant part to the actions of President Obama, the economic picture today is much brighter," the report that was submitted to Congress said. "GDP per capita started expanding in the third quarter of 2009 and reached its pre-crisis level in nearly four years, considerably faster than the historical record suggests is the typical pace of recovery following a systemic financial crisis."Following ...

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