White House Reports Stimulus Success

The American Recovery and Reinvestment Act, a $787 billion piece of legislation intended to stimulate the U.S.economy, has met with modest success within its first 100 days, according to a report released by the Office of the Vice President.

“This is no simple task, and the economic troubles that we face are the result of years of neglect. We can’t reverse that damage in a hundred days, but we are starting to turn the corner,” said Rob Nabors, Deputy Director of the Office of Management and Budget, during a conference call with reporters.

Jared Bernstein, Chief Economic Advisor to the Vice President, said that the recent decrease in job losses nationwide is a sign of the Recovery Act’s progress.

“In every state across this country people are at work who would not have been for the measures in this act,” Bernstein said.

Bernstein touted a number of programs that will presumably continue to fuel job growth, including: training for green jobs, infrastructure investment and fiscal support for states.

“The Federal Government has allocated $112 billion thus far for these activities. That’s a tremendous dose of medicine for an economy that’s finally showing some signs of breaking it’s fever,” he said.