When was the stimulus bill passed by Congress?
When was the stimulus bill passed by Congress?
President Obama’s stimulus package, the American Recovery and Investment Act of 2009, was passed by Congress on February 13, 2009 and signed into law by the President four days later.
How much money did the US spend on the stimulus?
Of that, $303 billion went toward tax relief and credits. Another $141 billion was spent on health services and $97 billion on education. It spent $64 billion on unemployment compensation, and $48 billion on the Supplemental Nutrition Assistance Program.
How many jobs did the stimulus bill create?
White House economic adviser Jason Furman said the American Recovery and Reinvestment Act made other targeted investments that will pay dividends for years to come. By itself, the stimulus bill saved or created an average of 1.6 million jobs a year for four years through the end of 2012, Furman said in a White House blog post.
Who are the critics of the stimulus bill?
On the left, there were criticisms that the stimulus was watered down and did not do enough. Economist Paul Krugman argued that the stimulus was far smaller than the economic crisis warranted. Both the House and the Senate versions of the bills were primarily written by Democratic Congressional committee leaders and their staffs.
What did the stimulus bill do for the economy?
– The costly $787 billion spending bill that President Barack Obama signed into law soon after taking office boosted the economy and helped avoid another Great Depression, the White House said in a status report on Monday’s fifth anniversary of the law’s enactment.
Of that, $303 billion went toward tax relief and credits. Another $141 billion was spent on health services and $97 billion on education. It spent $64 billion on unemployment compensation, and $48 billion on the Supplemental Nutrition Assistance Program.
On the left, there were criticisms that the stimulus was watered down and did not do enough. Economist Paul Krugman argued that the stimulus was far smaller than the economic crisis warranted. Both the House and the Senate versions of the bills were primarily written by Democratic Congressional committee leaders and their staffs.
What was the cost of the stimulus package?
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019.