The White House has been telegraphing the shape of the proposal that President Obama will make tomorrow in his jobs speech to a joint session of Congress.
America is a high-energy society — that is, we consume a lot of energy. According to Wikipedia the United States has long been the world’s largest producer and consumer of electricity, with a global share in 2005 of at least 25%. This consumption is a primary driver of growth. Energy is our economic blood.
The Congressional Budget Office has published a new report entitled “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2011 Through March 2011.” It makes some large claims about how many jobs stimulus funds have created: