Friday, February 21, 2014

The American Recovery and Reinvestment Act - Five Years Later

The American Recovery and Reinvestment Act, initially priced at $787 billion and later revised to $831 billion, included $212 billion in tax cuts (mainly through the payroll tax cut), $296 billion in mandatory spending on programs including Medicaid and unemployment benefits, and $279 billion in discretionary spending targeting areas such as aid to individuals to investments in infrastructure, energy, education, and health care.

The report says the array of measures is expected to pump $763 billion into the economy by 2019, with most of it being released before the end of fiscal year 2012.

Read more from the White House and two popular news sources below.

The Economic Impact of the American Recovery and Reinvestment Act 5 Years Later - A report from the White House Council of Economic Adviser's.

The Fifth Anniversary of the American Recovery and Reinvestment Act - A White House blog post that provides an overview of the above mentioned report.

5 Years After Stimulus, Obama Says It Worked (Time)

White House: Economic Picture ‘Much Brighter’ Thanks to Obama (Fox Business)




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