The president\u2019s Council of Economic Advisers recent report, The Economic Impact of the American Recovery and Reinvestment Act of 2009: Fourth Quarterly Report, July 14, 2010<\/em>, is encouraging. By any measure, the $787\u00a0billion <\/span>American Recovery and Reinvestment Act (ARRA) has been successful. Even though it was too small and included too many tax cuts as opposed to direct spending (See \u00a0progressive economists\u00a0Paul Krugman<\/a>, and \u00a0Joseph Stiglitz<\/a> for more on these arguments) the Recovery Act has had an extremely positive impact on the welfare of the country. Its success underscores how impressive and effective it can be when taxpayer money is used for the common good, to help improve the lives of the majority of American citizens.<\/p>\n Hopefully, the solid successes of ARRA will encourage additional stimulus spending. As for the deficit, ending the misguided wars in Iraq and Afghanistan, and letting the tax cuts on the upper 5% expire, would free up a lot of money to help the American economy get on its feet. To track ARRA spending in your state or city, go to www.recovery.gov<\/a>.<\/p>\n