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On February 8, 2009, a letter to Congress signed by about 200 economists in favor of the stimulus, written by the Center for American Progress Action Fund, said that Obama's plan "proposes important investments that can start to overcome the nation's damaging loss of jobs", and would "put the United States back onto a sustainable long-term ...
According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle-class families as the McCain plan. [235] Obama's plan includes a temporary "Making Work Pay" program, which gives a tax credit at 6.2% of earned income up to $400 for single workers (making less than $75,000/yr), and an $800 for married couples ...
The plan included 365.5 billion dollars to be spent on major policy and reform of the health system, 275 billion (through tax rebates) to be redistributed to households and firms, notably those investing in renewable energy, 94 billion to be dedicated to social assistance for the unemployed and families, 87 billion of direct assistance to ...
Krugman also was critical of some of the Obama administration's economic policies. He criticized the Obama stimulus plan as being too small and inadequate given the size of the economy and the banking rescue plan as misdirected; Krugman wrote in The New York Times: "an overwhelming majority [of the American public] believes that the government ...
The measure was proposed by Christopher Dodd of Connecticut as an amendment to the $900 billion economic stimulus act then waiting to be passed. [24] On February 10, the newly confirmed Secretary of the Treasury Timothy Geithner outlined his plan to use the remaining $300 billion or so in TARP funds. He intended to direct $50 billion towards ...
The New New Deal is the most interesting book that has been published about the Obama administration. Even Republicans should read it. [2] The editor-in-chief of The Politico, John Harris, praised the book, arguing that it "demolishes cliches and vividly reframes our thinking about President Obama and his stimulus package through a gripping ...
Critics of U.S. affordable housing policies have cited three aspects of governmental affordable housing policy as having contributed to the financial crisis: the Community Reinvestment Act, HUD-regulated affordable housing mandates imposed upon Fannie Mae and Freddie Mac, and HUD's direct efforts to promote affordable housing through state and ...
The first pieces of the New Energy for America plan put into action were done so through the American Recovery and Reinvestment Act of 2009, that was introduced to combat the effects of the Great Recession of 2008 and signed into law by President Obama. The policies implemented included $90 billion towards government investments, and tax ...