Biden: Recovery Act Is Working

Critics attacking 'pet programs' have 'misconstrued' the effort
By Matt Cantor,  Newser User
Posted Jul 26, 2009 10:07 AM CDT
Vice President Joe Biden during his speech in Kiev, Ukraine, Wednesday, July 22, 2009. The scope of the Recovery Act makes it an easy target for naysayers, the veep says, but it's working as intended.   (AP Photo/Sergei Chuzavkov)
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(Newser) – Those who dismiss the Recovery Act as “being spent on pet programs” are wrong, writes the man tasked with administering it. Writing in a New York Times op-ed, VP Joe Biden contends that the stimulus has “brought us back from the precipice.” Two-thirds of it “goes directly to tax cuts, state governments, and families in need, without red tape or delays”; the rest is going to infrastructure work that creates jobs and provides for long-term growth.

Already, “monthly job losses are down, financial markets are improved, and economic contraction has slowed.” But we can’t expect an immediate economic surge: “the act was intended to provide steady support for our economy over an extended period—not a jolt that would last only a few months,” Biden writes. “The act’s effort to address multiple problems simultaneously makes it an easy target for second-guessing,” but after just 159 days, it’s already aiding “relief, recovery, and reinvestment.”