WASHINGTON, Aug. 24 (UPI) -- U.S. Vice President Joe Biden unveiled a report Tuesday that analyzes the impact of investing stimulus economic funds in innovation, science and technology.
The American Reinvestment and Recovery Act has invested more than $100 billion in a spectrum of programs from energy to health information technology, speeding up the pace of innovation and helping to establish the United States as a global leader in competitive, high-growth industries, the White House said.
Energy Secretary Steven Chu joined Biden for his remarks in the Eisenhower Executive Office Building.
"When we passed the Recovery Act, our goals were threefold: to rescue a rapidly deteriorating economy; to put the country on a path to recovery by getting Americans back to work quickly; and to reinvest in the country's long-term economic future," Biden said.
"On the first two counts, we're making progress: We've created 3 million jobs, and we're adding jobs every month. The economy has been growing for a full year. In the last six months of the Bush administration, we lost 3 million private sector jobs. In the first seven months of this year, we created 630,000 private sector jobs. We're turning this around. Now, it's not happening as fast as any of us would like. … But there isn't any doubt -- we're moving in the right direction". UPI
