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Estimated Macroeconomic Impacts of the American Recovery and Reinvestment Act of 2009

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Estimated Macroeconomic Impacts of the American Recovery and Reinvestment Act of 2009, March 2, 2009. Letter to the Honorable Charles E. Grassley. Difference Between Potential GDP in CBO’s Baseline and Actual GDP Without and With the Impact of the American Recovery and Reinvestment Act of 2009 (Pct. difference in 4th qtr. of each yr.)

  • “By CBO’s estimation, in the short run ARRA will raise GDP and increase employment by adding to aggregate demand and thereby boosting the utilization of labor and capital that would otherwise be unused because the economy is in recession. Most of the budgetary effects of the legislation are estimated to occur over the next few
    years, and as those effects diminish, the short-run impact on the economy will fade.”

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