WASHINGTON (CNN) - Vice President Joe Biden trumpeted the role of the administration's $787 billion stimulus package Thursday in sparking an economic recovery.
"There is a growing consensus: the recovery act is working," he told an audience at the Brookings Institute.
"Instead of talking about the beginning of a depression, we are talking about the end of a recession."
The stimulus plan, enacted almost 200 days ago, "is doing more faster and more efficiently and more effectively than most people expected," he argued.
The vice president, who is overseeing the implementation of the plan, cited multiple independent analysts who claim the stimulus plan has created or saved between 500,000 and 750,000 jobs.
Economists from Goldman Sachs, he noted, believe the recovery plan added over 2 percentage points in growth to the country's gross domestic product in the second quarter of 2009.
They believe it will add 3.3 points in the third quarter, he added.
The Republican National Committee sharply disputed Biden's claims, releasing a statement characterizing the stimulus plan as a failure.
"The Democrats' rhetoric on their economic experiment doesn't match with the reality of millions of Americans remaining unemployed," the statement said. "The stimulus was an economic experiment that failed."
Most Americans remain pessimistic about the state of the economy. Nearly nine in 10 believe the country is still in a recession, according to an August 28-31 CNN/Opinion Research Corporation poll.
Almost 40 percent of Americans believe the Obama administration's policies have improved economic conditions. Thirty-four percent believe Obama's policies have worsened the economic climate, while 27 percent believe they have had no effect.
Altogether, employers have announced over 1,070,000 job cuts so far this year - 60 percent more than at this point a year ago. The current tally is less than 200,000 away from surpassing the total number of job cuts in all of 2008.
The Labor Department's monthly jobs report, due Friday, is expected to show that the economy shed 265,000 jobs in August, slightly more than the 247,000 reported for July, according to a consensus estimate of economists compiled by the Web site Briefing.com.
The unemployment rate is predicted to rise from 9.4 to 9.5 percent.
–CNN's Jessica Dickler contributed to this report