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The Economic Recovery Act is Working

Offering further proof that the President's Economic Recovery Act is working, the non-partisan Congressional Budget Office released estimates Monday showing that economic recovery funds has saved or created between 600,000 and 1.6 million jobs in the third quarter and raised the gross domestic product by as much as 3.2 percent. The CBO findings follow a report from the New York Times, citing leading economists who concluded the Recovery Act "is helping an economy in free fall a year ago to grow again and shed fewer jobs than it otherwise would." [New York Times, 11/20/09].

"While we still have work to do to get our economy back on track, it is clear that the Recovery Act has kept us from falling off a cliff," said Louisiana Democractic Party Chair Chris Whittington. "This new report offers indisputable proof that the Economic Recovery Act is working."

While leading economists have said that the Recovery Act is on track to reach its goal of saving or creating 3.5 million jobs, this report by the non-partisan Congressional Budget Office confirms that the stimulus funds have already saved or created between 600,000 and 1.6 million jobs. This new report offers indisputable proof that the Economic Recovery Act is working.

Whittington noted that U.S. Senator David Vitter and all Republican members of Louisiana's congressional delegation voted against the Economic Recovery Act,

"Unfortunately, Sen. Vitter and the 'Party Of NO,' chose to put partisan politics ahead of common sense and voted against the Recovery Act," Whittington said. "Sen. Vitter and his colleagues in the other party have shown time and time again that they are more interested in petty politics than fighting for the best interests of Louisiana families."

"We invite Louisiana Republicans to work with us to promote policies that create jobs, grow our economy and deliver on the change Americans overwhelming voted for last November," Whittington added.