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The State and Local Drag on the Stimulus

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Author Info
Dean Baker
Rivka Deutsch

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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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Publisher 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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Related research
Keywords: economic stimulus; fiscal stimulus; recession; ARRA; unemployment;

Find related papers by JEL classification:
H - Public Economics
H2 - Public Economics - - Taxation, Subsidies, and Revenue
H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
I - Health, Education, and Welfare
I1 - Health, Education, and Welfare - - Health
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
E - Macroeconomics and Monetary Economics
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy

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This page was last updated on 2009-11-14.

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