Stimulus saved or created up to 2 million jobs in 2009, White House says

These latest figures from the White House Council of Economic Advisors are certain to be challenged by Republicans, but the employment and economic effects of the stimulus cited in the report are generally in line with estimates from some leading private economists as well as the nonpartisan Congressional Budget Office.

"This is truly a stunning effect" of the Recovery Act, Christina Romer, chairwoman of the council, said in a conference call with reporters.

She expressed confidence that the package of tax cuts and government spending -- the largest of its kind in U.S. history -- ultimately would fulfill President Obama's promise of boosting employment by 3.5 million jobs by the end of this year. As of the end of last year, about a third of the $787 billion had been spent, although about half of the total has been committed.

The council's report, mandated by Congress as part of the stimulus act and released late Tuesday, came as Obama mounted a full-court press to defend his record on jobs. That's a major vulnerability for the White House and Democrats in Congress as they head into midterm elections in November with double-digit unemployment predicted for all or much of the coming year.