White House: Up to 2 Million Jobs Created or Saved by Stimulus

The White House reported Tuesday night that President Obama’s $787 billion stimulus package has helped create or save between 1.5 million and 2 million jobs. The findings were outlined in the administration’s second quarterly report to Congress on the stimulus package’s economic impact.

According to the report, about one-third of the $787 billion package has either been spent directly or received as tax cuts to this point. It goes on to say the stimulus package added between 1.5 and 3 percentage points to GDP growth in the fourth quarter of 2009, which is down slightly from the estimated three to four percentage points the GDP grew in the third quarter of 2009.

Job losses in the fourth quarter were just one-tenth of what they were in the first quarter of 2009, according to the report. To view the full report, click here.