White House to Announce Stimulus Created or Saved 650K Jobs

Posted October 30, 2009 at 7:47am

The White House on Friday will announce that under the stimulus bill passed early this year, some 650,000 jobs have been “created or saved— though Sept. 30, according to administration officials.The findings, part of a report mandated by Congress, will “confirm— forecasts that that total spending so far has produced in excess of 1 million jobs created or saved. Congress approved the $787 billion stimulus bill in February, and since then Democrats have worked hard to argue that it stopped the economy from spiraling further downward. Republicans have assailed the package as a failure.White House officials have promised that the new reports will put their spin on earlier news reports about the stimulus effects.The report to be issued today accounts for about $150 billion of $339 billion in spending through Sept. 30. That spending is tied to “projects and activities— such as education funding, highway repairs and construction projects.The report does not capture the job impact of the stimulus’ tax cuts, direct payments to individuals and other grants and awards.