Stimulus Report from the Council of Economic Advisers

The President's Council of Economic Advisers, made up of some of the sharpest minds in economics, recently issued a report (PDF) on the effects of the fiscal stimulus bill, known as the American Recovery and Reinvestment Act. From the introduction of the report:

Our multifaceted analysis indicates that the Recovery Act has played an essential role in changing the trajectory of the economy. It has raised the level of GDP substantially in its first full year of existence and has saved or created between 2.2 and 2.8 million jobs as of the first quarter of 2010. The tax relief and income support provisions of the ARRA alone account for roughly half of the beneficial employment effects.

More here.