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- iHaveNet.com: Economy
by Matthew Bandyk
The Obama administration has claimed that over 600,000 jobs have been created by the stimulus so far through direct grants, and many have argued this is a deceptive argument in light of the "disturbingly high unemployment rate," as Michael Boskin writes.
The
Take the education industry, for example. Not the schools and the people they employ, but the range of businesses that provide services to educators. At a conference yesterday, I spoke to the CEO of one such business, Dennis Heneger of the
School districts had to freeze or cut their budgets as the fiscal situation worsened in the 50 states, and so many schools didn't have the money for LEAPS. But, Heneger told me, the company got back on track in 2009 thanks to the stimulus. Now many school districts are flooded with money that is specifically set aside for special education. Heneger's company is marketing LEAPS as an investment for which schools can use that money.
This is one anecdotal example of exactly what the
Counting jobs created versus jobs destroyed is hard. While it's clear that for now, the economy is still bleeding jobs, we won't have a good idea for some time just how much the stimulus has done to stop that bleeding. But at least on the level of the individual firm, we can say it has done some good.
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Economy: Where The Stimulus Is Working