All fast facts for Jobs & Economy are from the non-partisan Congressional Budget Office (CBO) and Bureau of Labor Statistics (BLS). They do not represent all of their reports on this subject. Some simply provide historical perspective. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement. As always, verify and view statements in their full context as often as possible.
|All told, CBO’s estimate of the increase in employment attributable to ARRA (stimulus) for calendar year 2011 was revised downward from a range of 1.2 million to 3.7 million Full Time Employee (FTE) jobs to a range of 0.6 million to 3.6 million. Click here to verify at Page 8|
|With about 2.0 million civilian employees, the Federal Government, excluding the Postal Service, is the Nation’s largest employer. Click here to verify|
|The Balanced Budget and Taxpayer Relief Acts of 1997 had a significant impact on projected outlays and revenues. Over the next three years, changes in CBO’s economic projections – primarily stronger real growth in GDP – contribute to nearly half of the total budgetary improvement. Click here to verify at Page xix|
|In 1999, the U.S. economy continued to expand far beyond expectations—yet without any meaningful acceleration in the underlying rate of inflation. Click here to verify at Page 6|
|CBO’s current budget outlook is considerably more positive than the one described in its July 1999 report. Since then, CBO estimates, the Congress and the President have enacted legislation that increases projected spending over the 2000-2009 period by about $109 billion and reduces projected revenues by $18 billion, compared with the levels in CBO’s July baseline. Click here to verify at Page 3|