President Obama’s stimulus package appears to have helped the economy bottom out more swiftly, an economists’ report says. Analysts hold that the stimulus boosted economic growth by about a percentage point in the second quarter—not enough to keep the economy from shrinking but enough to slow the pace of decline, reports the New York Times.
“The signs of the stimulus are there,” said one economist. “Government—federal, state and local—is helping take the economy from recession to recovery. I think it’s the primary contributor.” The report notes, however, that the stimulus tax cuts weren’t particularly helpful since people saved them or used them to pay debts instead of rushing out to spend.