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Report Show Stimulus Created Millions Of Jobs

Gina-Marie Cheeseman
| Monday July 26th, 2010 | 1 Comment

A Treehugger.com article says the American Recovery and Reinvestment Act (ARRA), otherwise known as the stimulus, has “done a number of good things, like preventing all-out depression and pushing clean energy development.” A report from the Council of Economic Advisors (CEA) said the stimulus created or saved 2.5 to 3.6 million jobs, almost one million in a field related to clean energy. A Congressional Budget Office (CBO) report released in May showed that the stimulus increased the number of workers by between 1.2 million and 2.8 million. The report projected that 3.7 million jobs could be attributed to the stimulus by the end of September.

The Center for American Progress (CAP) breaks down the clean energy investments in the stimulus as follows:

  • Energy efficiency—$29 billion
  • Renewable energy generation—$21 billion
  • Grid modernization—$10 billion
  • Advanced vehicles and fuels technologies—$6 billion
  • Traditional transit and high-speed rail—$18 billion
  • Carbon capture and sequestration technologies—$3 billion
  • Green innovation and job training—$3 billion
  • Clean Energy Equipment Manufacturing tax credits—about $2 billion

The CEA estimates that 827,000 public investment jobs will have been created by 2012 in the above categories.

As of the end of last month, over 60 percent of the $787 billion in stimulus funds “has been outlayed or has gone to American households and businesses in the form of tax reductions.” During the third quarter of 2009, according to the CEA report, real GDP began to steadily grow, and private payroll employment increased by almost 600,000 since December 2009, when it dipped to its lowest point. The stimulus increased the GDP by the second quarter of 2010 from 2.7 in the first quarter to 3.2 percent. The public investment spending of the stimulus saved or created over 800,000 as of the second quarter of 2010, a 30 percent increase over the first quarter. Employment growth averaged 63,000 per month in 2010 in the first quarter and 123,000 in the second quarter.

Roughly $100 billion of stimulus funds have leverage provisions which support over $380 billion of total investment spending. The CEA report says, “This implies that every $1 of Recovery Act funds invested in these programs is partnered with about $3 of outside investment spending.” The majority of leveraged funds come from the private sector.

The report acknowledges that although the economy is “obviously still far from healthy” the unemployment rate continues to remain at 9.5 percent. “The change in the economy over the last 18 months has been dramatic.”


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  • http://speakoutarizona.com/ Denise Bensusan

    “When you think of solar you automatically think GREEN! I used to think that way myself but in the desert southwest the MASSIVE use of water by SOME solar power plants such as Hualapai Valley Solar AKA Mohave Sun Power cannot be labeled as a GREEN project. With depleting water supplies in Mohave County Arizona the Hualapai Valley Solar Project will permanently damage an ENTIRE communities water supply and thus their property values, livelihoods and LIFE ITSELF. The Department of Energy and any other entities that approve stimulus funding for solar power plants should NOT approve funding for any solar plants in the southwest that are not DRY/AIR-cooled power plants.

    Mr. Obama has not critiqued these funding sources in the area of water use in the desert southwest. Instead of solar being a solution to fossil fuel (as the Obama admisistration CLAIMES it is) it has become just another destructive, dirty industry and a blight to the environment. That bright star that is solar has been turned rancit by the greed of corporations like Hualapai Valley Solar with their utilization water to produce energy. The policies of stimulas funding/your tax dollatrs for solar projects is rediculously vague and wasteful. The corruption within the stimulas funding process is abundent and will be looked back on as another ROBBERY OF THE AMERICAN PEOPLE! Mr. Obama wouldnt know a truly green project if it hit him in the head but he still goes on national telivision with claims of saving the world with solar power plants. ! loose and not well thought out. It seems to me that we have simply forced the tax paying American to supply corporate welfare to companies that will become the NEW SOLAR KINGS vs OIL KINGS This issue SHOULD be a NATIONAL issue across the board. Our local government (Mohave County Arizona Board of Supervisors, Gary Watson, Tom Sockwell and Buster Johnson) have approved this project as a WET-cooled project although it defies our General Plan. UNBELIEVABLE but true. I call this a corruption of the public process. Mohave County Arizona has allowed Hualapai Valley Solar to WASTE and DEPLETE the very thing that gives this community LIFE, its WATER. They have taken away our futures and the futures of our children and grand children.

    The southwest will tumble under this kind of environmental attack and it will happen quickly. For the greater good, for jobs? Just as many jobs are created by the DRY-cooling process so that premise is inaccurate! I don't see the good in any of this and the Obama administration needs to take heed IMMEDIATELY or the southwest will not survive!

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