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Another economist, Allen Sinai, chief global economist at Decision Economics Inc, urged patience. But he questioned President Barack Obama's prediction that the $800 billion stimulus package enacted last month would create or save as many as 3 million to 4 million jobs.
"Initially … the jobs created may be a little disappointing," Sinai said.
Sinai said his analysis showed that about 2.5 million jobs would be saved or created over the next two years and he said it is more realistic to project 3 million jobs over a longer period of three years.
The most recent prediction from the Congressional Budget Office, released last week, estimates the recovery package will create or save from 1.2 million jobs to 3.6 million jobs.