Buried within the Congressional Budget Office's most recent report on the progress of President Obama's American Recovery and Reinvestment Act was a surprising admission: the CBO now estimates the stimulus might have been only half as effective as previously thought.
You wouldn't know it from the headlines. "Stimulus added up to 3.3M jobs," reads a representative piece from Politico reporting on the November CBO report. This headline is accurate for the high-end estimate. That estimate, however, is essentially unchanged from previous reports. In the past, the CBO's low estimate for jobs "created or saved" was 1.2 million which, in this report, has dropped to only 600,000.
TONY DIGIROLAMO- HOPE AND CA-CHANGE!
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