Stimulus raised GDP by up to 4.2 pct in Q1 2010 -CBO

[ProSense]

Source: Reuters

WASHINGTON, May 25 (Reuters) - The massive U.S. stimulus package put up to 3.4 million people to work and boosted GDP by up to 4.6 percent in the first three months of 2010, the nonpartisan Congressional Budget Office said on Tuesday.

CBO's latest estimate does not differ significantly from its previous assessments of the impact of the $893 billion package, passed in 2009.

But it is sure to cheer congressional Democrats as they struggle to advance a smaller package of safety-net spending, tax cuts and other measures to boost the sluggish economy and bring down the 9.9 percent unemployment rate.

Vice President Joe Biden issued a statement saying the CBO report "is important validation that the action we took to rescue the economy last year has not only pulled us back from the brink, but put us on a firm path toward economic recovery."


Read more: http://www.reuters.com/article/idUSN2512520220100526?type=marketsNews

[Cant trust em]

1. Suck on that, GOP!

I am so stimulated right now.

[Warren Stupidity]

2. Yeah and it raised the GOP by 15%.

go figure.