The U.S. Congressional Budget Office (CBO) projected on Tuesday (May 25) that the large-scale economic stimulus plan helped up to 3.4 million people find jobs and boosted the first-quarter 2010 Gross Domestic Product (GDP) growth by as much as 4.6%.
The CBO estimates that the economic stimulus plan, known as the American Recovery and Reinvestment Act, lowered the unemployment rate in the first quarter of 2010 by 0.8 to 1.9 percentage points, which is equivalent to 1.4 to 3.4 million people finding employment. The act boosted first-quarter GDP growth by 1.7% to 4.6%.
The CBO also acknowledged the efforts of Democratic lawmakers. U.S. Democratic lawmakers are striving to push for a smaller-scale package that covers safety net spending, tax cuts, and other measures to stimulate the economy and reduce the unemployment rate.



