White House report: Stimulus funds creating jobs

Friday - 9/17/2010, 3:39pm EDT

The Recovery Act is doing what it set out to do -- laying a foundation for economic growth according to a new White House report.

The report says the federal stimulus funds were responsible for creating at least 2 million jobs nationwide in the Act's first year. Job losses were a fraction of what they were prior to the Recovery Act, according to the report.

Federal funds have been particularly beneficial for DC-area firms, which received $3.7 billion in stimulus contracts, The Wall Street Journal reports.

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