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  • Romer: Impact of stimulus will level off next year

    10/22/2009 2:23:13 PM PDT · by La Lydia · 26 replies · 666+ views
    Google AP ^ | October 22, 2009 | JIM KUHNHENN
    The government's economic stimulus spending has already had its biggest impact and probably won't contribute to significant growth next year, a top White House adviser said Thursday. Christina Romer, the chair of President Barack Obama's Council of Economic Advisers, said the initial jolt of the $787 billion stimulus expanded the economy in the second and third quarters of this year. But she said the remaining spending will simply keep the economy from slipping. "By mid-2010," she said, "fiscal stimulus will likely be contributing little to further growth." That assessment underscored the fragility of an economic recovery marked by stubbornly high...