Jared Bernstein, Chief Economist and Economic Policy Adviser to Vice President Biden, told FOX Business Network’s Liz Claman and David Asman that the stimulus package started a ripple effect in job creation and that “the fingerprints of the stimulus act are all over that recovery.”
Here are some highlights from the interview : Courtesy of FOX Business Network
On job creation through the stimulus package:
“We’ve tried to take a comprehensive look at all the spending – the direct jobs – but also you can’t forget the indirect jobs. That’s the multiplier, ripple effect.”
On why the White House’s figures of the budgetary impact of the stimulus act are less that the CBO’s figures:
“Their estimate of where the economy is going between now and 2019 is different from ours. What’s much more important is to look at the actual impact this program has had. We’re not done. The fingerprints of the stimulus act are all over that recovery.”
On speeding up the process of using stimulus money for project spending:
“In year two we are ramping up…this is not only creating good jobs today but planting the seeds of important new growth industries for tomorrow.”
