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Line 1: − is a law passed by Congress on Friday the 13th of February 2009 along party lines, and supported by the [[Obama Administration]].+
American Recovery and Reinvestment Act of 2009 (view source)
Revision as of 15:59, February 25, 2009
, 15:59, February 25, 2009a vote sharply divided along party lines
The '''American Recovery and Reinvestment Act of 2009''', called a "stimulus bill" by its supporters,
The '''American Recovery and Reinvestment Act of 2009''', called a "stimulus bill" by its supporters,
was passed by Congress on Friday the 13th of February 2009 after a vote sharply divided along party lines. It was supported by Democrats and by the [[Obama Administration]].
At $789 billion it is one of the most expensive proposals in world history, and is promoted by Democrats as an "[[economic stimulus]]" package that will revive the ailing U.S. economy (see [[Recession of 2008]]). They promised it would add or save 3.5 million jobs, at a time when over 500,000 jobs are disappearing every month. Conservatives complain that it is mostly spending to promote long-standing liberal causes. The Republican counterproposal was similar in scope but totaled only $500 billion. The bill passed the House and Senate with only three Republican senators voting for it and no Republican votes in the House and was signed by the president on February 17, 2009. It many ways the stimulus program resembled the [[Reconstruction Finance Corporation]] set up by [[Herbert Hoover]] and Gongress in 1932 to deal with the [[Great Depression]].
At $789 billion it is one of the most expensive proposals in world history, and is promoted by Democrats as an "[[economic stimulus]]" package that will revive the ailing U.S. economy (see [[Recession of 2008]]). They promised it would add or save 3.5 million jobs, at a time when over 500,000 jobs are disappearing every month. Conservatives complain that it is mostly spending to promote long-standing liberal causes. The Republican counterproposal was similar in scope but totaled only $500 billion. The bill passed the House and Senate with only three Republican senators voting for it and no Republican votes in the House and was signed by the president on February 17, 2009. It many ways the stimulus program resembled the [[Reconstruction Finance Corporation]] set up by [[Herbert Hoover]] and Gongress in 1932 to deal with the [[Great Depression]].