Recovery Act Saved Jobs And Boosted The Economy, Says Romer

By Linn Grubbstrom - Talk Radio News Service

Dr. Christina Romer, the White House’s chief economist, argued Wednesday that the Recovery Act is responsible for key improvements within the U.S. economy.

“The Recovery Act has increased real GDP, relatively to what it otherwise would have done, by between 2.7 and 3.2%,” Romer said during a conference call coinciding with the release of a report on the Act’s effectiveness. “It increased employment, relative to what otherwise would have happened, between 2.5 and 3.6 million.”

The Recovery Act was designed to boost economic growth and employment in the U.S. Republicans have chided the $787 billion stimulus package as too costly and unable to curb unemployment.