Question

discuss whether or not you think the ARRA was effective and useful? Were some parts of it more useful than others?

Answer 1

The 2009 American Recovery and Reinvestment Act was a fiscal stimulus that was signed on February 17, 2009 by President Barack Obama. The Great Recession came to an end in July 2009. Congress passed the bill based on the initiative of President Obama to place $787 billion in American families and small businesses ' pockets. That would raise demand and confidence. The program of President George W. Bush, the Troubled Asset Recovery Program, was a welcome follow-up. Through bailing out large banks, TARP began the financial crisis of 2008.

There was something for everyone in the American Recovery and Reinvestment Act. But it has been almost too difficult. Most people are unsure whether they really got a tax exemption. Polls showed that many others assumed that their taxes had risen rather than fallen. Small businesses argued that they were not helped by loan guarantees and tax deductions. That's because the instructions didn't just come in. Others have questioned the focus on education or helping families with low incomes. Some said expanded unemployment benefits would remove the incentive to seek work.

Yet ARRA's success lies in the numbers. Five months after Congress passed the Act, the recession ended in July 2009. Economic growth has increased instantly. Since shrinking 4.4 percent in Q1 2009, it grew 1.5 percent in the third quarter of 2009. The economy added 2,4 million private sector jobs and 1,7 million government jobs in the first 18 months after ARRA passed. That was after the recession's loss of more than 500,000 jobs a month.