First Economic Impact of the ARRA Report Released by Council of Economic Advisors

18 September 2009 Geoff Zeiss
The Council of Economic Advisers (CEA) has released The Economic Impact of the American Recovery and Reinvestment Act of 2009, the first quarterly report by the CEA to Congress on the effects of the Recovery Act on the economy and employment.

By the end of August, $151.4 billion of the total $787 billion ARRA has been paid out or has gone out in the form of tax reductions. 

It is estimated that the ARRA added 2.3 percentage points to real GDP growth in the second quarter and is likely to add more to growth in the third quarter.

This analysis indicates that the ARRA and other policy actions caused employment in August to be slightly more than 1 million jobs higher than it otherwise would have been especially in manufacturing, construction, retail trade, and temporary employment services. 

Worldwide, it was found that countries that adopted larger fiscal stimulus packages outperformed expectations relative to those adopting smaller packages.
Geoff Zeiss

Geoff Zeiss

Geoff Zeiss has more than 20 years experience in the geospatial software industry and 15 years experience developing enterprise geospatial solutions for the utilities, communications, and public works industries. His particular interests include the convergence of BIM, CAD, geospatial, and 3D. In recognition of his efforts to evangelize geospatial in vertical industries such as utilities and construction, Geoff received the Geospatial Ambassador Award at Geospatial World Forum 2014. Currently Geoff is Principal at Between the Poles, a thought leadership consulting firm. From 2001 to 2012 Geoff was Director of Utility Industry Program at Autodesk Inc, where he was responsible for thought leadership for the utility industry program. From 1999 to 2001 he was Director of Enterprise Software Development at Autodesk. He received one of ten annual global technology awards in 2004 from Oracle Corporation for technical innovation and leadership in the use of Oracle. Prior to Autodesk Geoff was Director of Product Development at VISION* Solutions. VISION* Solutions is credited with pioneering relational spatial data management, CAD/GIS integration, and long transactions (data versioning) in the utility, communications, and public works industries. Geoff is a frequent speaker at geospatial and utility events around the world including Geospatial World Forum, Where 2.0, MundoGeo Connect (Brazil), Middle East Spatial Geospatial Forum, India Geospatial Forum, Location Intelligence, Asia Geospatial Forum, and GITA events in US, Japan and Australia. Geoff received Speaker Excellence Awards at GITA 2007-2009.

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