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An Analysis Of The American Recovery And Reinvestement Act 2009

2818 words - 12 pages

During an economic uncertainly the government has to make decisions that it believes will help the country in its time of need. In 2009 when the country continued to face dreadful economic circumstances involving jobs and a movement of money. In order to set economic recovery into motion, President Obama called for the passing of the American Recovery and Reinvestment Act of 2009 (ARRA). This is known as the stimulus bill. This bill was very important to many government officials in order to get the country back on its feet. Crucial differences in policy and bill structure could be viewed in assessing the opinions Democrats and Republicans brought to the floor in terms of the bill being passed. Understanding the basis of the bill, along with gauging the opinions of two noted leaders from each party, one can better assess the capacity of which political communication, the mass media, and public opinion have upon the passage of such bills, and more specifically the ARRA of 2009.
As previously noted, the American Recovery and Reinvestment Act of 2009 or the stimulus is an economic package enacted by the United States Congress in February of 2009 and signed into law by President Barack Obama on February 17, 2009. The bill was set in motion in order to combat the effects of the late-2000s recession. During this time, the United States suffered greatly from a severe and continuous economic problem that began in late 2007 and took a drastic and sharp downward turn in the fall of 2008. The economic landscape of the time saw unparalleled unemployment, drastic issues in the housing market, and an overall case of economic calamity. The stimulus bill was set into motion in order to both save and create jobs first and foremost. Secondly, the bill contained objectives to provide temporary relief programs for those impacted most by the recession and invest in infrastructure, education, health and green energy (Bernstein and Romer, 2009, p.1). The approximate cost of the stimulus package was labeled at $787 billion at the time of its passage and it included direct spending in education, health, energy, federal tax incentives, infrastructure and expansion of unemployment benefits and other social welfare provisions (Calmes, 2009, p.1). The rationale for the stimulus bill was based on the Keynesian theory which argues that during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic damage (Espo, 2009, p.1).
Upon taking office in 2009, left reeling in the wake of the financial system's collapse, no Democrat was as pivotal in the passage of the stimulus bill as President Barack Obama. President Obama started his work toward a fiscal stimulus even before his swear in. He was working beside many Democratic Congressional leaders in an effort to determine what the size and shape of his plan should be immediately upon taking his place within the White House. His...

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