Another act that was implemented was the Emergency Stabilization Act, otherwise known as TARP. This act gave the authority to the US treasury to bail out the banks on the failure of subprime mortgage crisis. The US ended up authorizing 700 billion dollars to be used to help the banks recover. A third act was implemented in 2009 called the American Recovery and Reinvestment Act. President Obama signed it and its purpose was to stimulate the weak economy. The Government would end up spending 831 billion dollars to offset the private sectors lower spending due to the weaker economy. So did the stimulus work? Most would agree that the stimulus put into place during the Obama campaign was a success while a large majority of people would argue
