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The State and Local Drag on the Stimulus

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  • Dean Baker
  • Rivka Deutsch

Abstract

This report shows that the $787 billion included in the 2009 ARRA will not have as much of an immediate effect on the economy as initially anticipated. After subtracting the annual AMT patch and acounting for state level spending and tax cuts, the full effect of federal stimulus will equal a little more than 1 percent of GDP a year, falling far short of what is needed to re-ignite the economy. While the 2009 recovery act was a vital first step towards restoring the nations economic foundation, this paper puts some perspective on the immediate effects of the stimulus.

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File URL: http://www.cepr.net/documents/publications/stimulus-2009-05.pdf
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Bibliographic Info

Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2009-17.

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Length: 11 pages
Date of creation: May 2009
Date of revision:
Handle: RePEc:epo:papers:2009-17

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Keywords: economic stimulus; fiscal stimulus; recession; ARRA; unemployment;

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Cited by:
  1. Jeffrey Thompson & John Schmitt, 2010. "The Wage Penalty for State and Local Government Employees in New England," Working Papers wp233, Political Economy Research Institute, University of Massachusetts at Amherst.
  2. Mark Weisbrot & Rebecca Ray & Jake Johnston & Jose Antonio Cordero, 2009. "IMF-Supported Macroeconomic Policies and the World Recession: A Look at Forty-One Borrowing Countries," CEPR Reports and Issue Briefs 2009-37, Center for Economic and Policy Research (CEPR).

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