Nearly a year ago, Congress took a decisive step to shore up an economy in free fall by passing the $787 billion stimulus bill. Since then, we have seen millions of Americans enter the ranks of the unemployed, billions of dollars spent on economic recovery, and quarterly growth swinging from the largest decline in a generation to positive territory in the same year.

Cut through all the numbers, though, and this is what you find: The American Recovery and Reinvestment Act saved us from plunging into a second Great Depression.

Keystone Research Center Executive Director Stephen Herzenberg was a guest on Portside with Burt Cohen, a radio talk show that examines economic and public policy issues. The two discussed FDR's approach to reviving the economy after the Great Depression and what lessons the President and policymakers can learn from that experience as they confront the worst recession since the 1930s.

Listen to a podcast of the radio show, which aired on Tuesday, December 22.

The White House Works It
By Diana Ransom

"WHEN IT COMES to creating jobs, everyone has an opinion. On Thursday, about 130 small-business owners, financial experts, union leaders, economists and CEOs from across the country convened at the White House to discuss their best ideas for stimulating job growth — and staving off another uptick in the unemployment rate, which climbed to 10.2% in October."

Read more.

Editor’s Note: The following analysis is provided to Pennsylvania reporters as part of the Keystone Research Center’s ongoing tracking of the health of the state economy. Keystone is also launching PA Economy Track, an online resource for up-to-date analysis of Pennsylvania’s employment situation. Find it at http://keystoneresearch.org/issues-guides/pa-economy-track/.  For ongoing analysis of the Pennsylvania economy, visit http://www.papolicyblog.com.