Thursday, May 21, 2009

Das Multiplier

"Economists have generally applauded the size and scope of the recovery program, which is expected to create or save as many as 3.5 million jobs. But because so much of the funding isn't expected until June and July...and a sizable portion of the money isn't scheduled to be spent until 2010, many experts believe the recovery package wasn't as focused on immediate stimulus as it could have been."

Justin Ewers, Waiting for the Payoff: The Debate Continues Over Obama's Recovery Plan, U.S. News & World Report, June 2009.

Let's not forget that ARRA has already produced a full-blown ARRA industry -- chock full of new occupation titles: Recovery Czars, ARRA navigators, ARRA trainers, ARRA fixers, ARRA advocates, ARRA interpreters, ARRA tour guides, ARRO silobusters, ARRA matchmakers, ARRA proposal writers, ARRA auditors and bean counters, and, of course, ARRA critics. ARRA business opportunities have included guidebooks, websites, and self-help groups.
Some have called it an ARRA feeding frenzy.

ARRA is a big snowball of a thing that is certainly keeping a lot of people busy. Let's hope this swirl of ARRA activity, as well as the spending,helps jumpstart the economy and our collective optimism.

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