Get American Recovery And Reinvestment Act Of 2009 University Of ... - Rochester

The American Recovery and Reinvestment Act of 2009 was signed into law by President Obama on February 17th, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century.

The American Recovery and Reinvestment Act of 2009 (referred to as the "ARRA", "Recovery Act" or "Stimulus Bill") was signed into law in February 2009 and was intended to stimulate the U.S. economy by injecting $787 billion in spending and tax cuts.

Expansionary Fiscal Policy: An expansionary fiscal policy is one that increases government spending, usually during a recession in order to help the economy recover.

American Recovery and Reinvestment Act (ARRA), legislation, enacted by the U.S. Congress and signed into law by Pres. Barack Obama in 2009, that was designed to stimulate the U.S. economy by saving jobs jeopardized by the Great Recession of 2008–09 and creating new jobs.

The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need."

The components of the ARRA were measures to stimulate the U.S. economy during the Great Recession. These measures included tax cuts, loan guarantees, and government spending, focusing on financial assistance to families, infrastructure, education, healthcare, renewable energy, and small businesses.

Following implementation of the ARRA, the trajectory of the economy changed materially toward moderating output decline and job loss. The decomposition of the GDP and employment change by components or sector suggests that the ARRA has played a key role in this change of trajectory.

The purpose of the American Recovery and Reinvestment Act was to create government jobs and to spend with the hopes of "jump-starting" the economy. The result was that economic recovery was slow and many Americans were left unemployed and receiving government assistance.