Is the stimulus working? It’s a question commonly asked of President Obama’s economic recovery plan.The numbers in Washington state are pretty compelling—in fact we’ve recently passed some important milestones in transportation.
WSDOT reports that the 2,000,000-employment-hours mark was crossed in the last couple of weeks, and 115 local and state projects are now operationally complete. Along with big safety improvements and maintenance work for the state’s infrastructure, the Recovery Act is generating much-needed economic activity and jobs for construction companies. The cumulative payroll for workers has reached $79.6 million, helping to support employees and their families during this rough economy. Read more about the Recovery Act-related transportation projects at WSDOT’s newsletter.
Speaking of the Recovery Act, the nonpartisan Congressional Budget Office (CBO) just reported the stimulus has been a bigger success than anticipated on the national level. In the first three months of this year, the CBO estimates the Act’s policies “increased the number of people employed by between 1.2 million and 2.8 million” and raised real GDP by between 1.7 percent and 4.2 percent. The stimulus’ effects should continue through this year and into 2011 before dropping off in 2012, the CBO projects. More information on the CBO’s blog here.
Photo (courtesy of WSDOT): I-90 at Moses Lake repaving project. Supported 50 jobs.
