Recovery Act One Year Later: Successful Stimulus or a Waste of Taxpayer Dollars?

Washington, Feb. 23 – Marking the one-year anniversary of the enactment of the American Recovery and Reinvestment Act, Vice President Joe Biden released a detailed report chronicling the successes of the stimulus package, including the creation or retention of approximately 2 million jobs.

According to the 31-page report, which Biden’s office prepared for President Obama, 95 percent of working families have seen tax cuts and real GDP increased by 1.5 to 3 percentage points, all due to the Recovery Act. While there is still funding left to be allocated under the $787 billion package, approximately $453 billion — 57 percent of the total funding — has already been allocated or delivered.