RELEASE: New Video Illustrates the Success of the Federal Stimulus
Washington D.C. — The Center for American Progress today released a video examining the success of the American Recovery and Reinvestment Act, better known as the stimulus, signed into law three years ago on Friday.
The video, narrated by Michael Linden, Director of Tax and Budget Policy at the Center for American Progress, takes a look at three broad but important indicators for the American economy: gross domestic product, total payroll employment, and private-sector layoffs. All three indicators were in bad shape before the stimulus began, and all three turned around at almost exactly the moment the stimulus started.
“In early 2009, the economy was headed off the cliff,” said Michael Linden “After we enacted the stimulus, the country swerved away from the edge and started heading back in the right direction. The evidence is clear. The stimulus worked.”