Recession is a bad word
The White House is reporting at recovery.gov that the $150 billion in grants and loans made so far under the economic stimulus package have created or saved about 650,000 jobs. That is quite a number, and almost accounts for the nearly 700,000 jobs lost back in March, right before the stimulus kicked in. These first reports do not yet include the stimulus package’s tax cuts, safety net spending, and fiscal aid to strapped states, which the white house says could put the job created or saved numbers over a million, putting it on track to reach 3.5 million jobs created or saved in a three year span. These reports also do not include numbers for jobs that might have been created by subcontractors or suplliers further down the chain.
