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The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. [1] The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public ...
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. [45] By late 2013, the Federal Government had disposed of (re-privatized) all of its investments in Chrysler and GM. As of late 2016, taxpayers had recovered $71 billion of the $80 billion invested in the automobile industry. [2]
This tax holiday was intended as an economic stimulus by Obama and the Democrats, [3] with the value of boosting the disposable income of American families. [3] It would not worsen the Social Security program's financial strength, as the shortfall would be made up from general revenues. Some Republicans thus criticized the idea for increasing ...
In laying out details for his new economic stimulus program Wednesday, President Barack Obama regained his political swagger and ramped up his criticism of Republican leaders for failing to ...
The Obama administration is not considering a second stimulus package as it seeks ways to jump-start the flagging U.S. economy, a White House spokeswoman said Thursday. Sponsored Links Obama said ...
Frustrated by his failure to achieve bipartisan consensus on the stimulus bill, President Barack Obama is selling his economic policy directly to the people. Obama clearly is hoping to tap into ...
On February 17, 2009, Obama signed into law a $787 billion economic stimulus bill that included spending for health care, infrastructure, education, various tax breaks and incentives, and direct assistance to individuals. The tax provisions of the law, including a $116 billion income tax cut, temporarily reduced taxes for 98% of taxpayers ...
In January 2009, the Obama administration announced a stimulus plan to revive the economy with the intention to create or save more than 3.6 million jobs in two years. The cost of this initial recovery plan was estimated at 825 billion dollars (5.8% of GDP).