White House report: Stimulus funds creating jobs

The Recovery Act is doing what it set out to do — laying a foundation for economic growth according to a new White House report.

The report says the federal stimulus funds were responsible for creating at least 2 million jobs nationwide in the Act’s first year. Job losses were a fraction of what they were prior to the Recovery Act, according to the report.

Federal funds have been particularly beneficial for DC-area firms, which received $3.7 billion in stimulus contracts, The Wall Street Journal reports.

This story is part of our daily DorobekINSIDER Must Reads. Be sure to check out the full list of stories.