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Biden says Recovery Act is on track

  |   July 30, 2010 at 2:35 PM
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WASHINGTON, July 30 (UPI) -- Vice President Joe Biden said Friday the 2009 Recovery Act had saved or created 750,000 jobs in the second quarter, the highest quarterly total to date.

"This record number reflects the early impact of our surge in projects across the country as part of "Recovery Summer," Biden said in a statement.

He said the 750,000 jobs were the result of $80 billion in federal spending, 17 percent of the $787 billion package.

Biden said the reporting on the jobs was "not perfect or complete," but the stimulus spending was on track to save or create 3.5 million jobs.

The government's figures were supported by independent studies done by economists Mark Zandi and Alan Blinder, he said.

Topics: Joe Biden
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