Consequences Of The American Recovery And Reinvestment Act Of 2009

The United States government needed to do something to help save its economy and help pull its country back out of recession since the consequences that this recession had on the United States were devastating and affected a countless amount of people. That is the reason why the 111th United States Congress in the month of February in the year 2009 passed the American Recovery and Reinvestment Act of 2009 that was signed into law by President Barack Obama on the date of February 17, 2009. ("American Recovery and Reinvestment Act of 2009", Wikipedia.org)The American Recovery and Reinvestment Act of 2009 was also commonly known as the Stimulus package or the Recovery Act of 2009. The reason why they passed the American Recovery and Reinvestment Act was …show more content…
("American Recovery and Reinvestment Act of 2009", Wikipedia.org). All of the investments of the economic stimulus package did not come at a cheap price because the approximate cost of the economic stimulus package was estimated to be an approximate grand total of 787 billion dollars in government spending ("American Recovery and Reinvestment Act", investopedia.com). The reason why the cost of the economic stimulus package came at such a large number is because of all the direct spending that the Act had on such places like Tax Cuts: 288 billion dollars, Healthcare: 147.7 billion dollars, Education: 90.9 billion dollars, Environment: 7.2 billion dollars, Social Welfare: 82.5 billion dollars, Infrastructure: 80.9 billion dollars, Energy: 61.3 billion dollars, Housing: 12.7 billion dollars, Research: 8.9 billion dollars and Other Investments: 18.1 billion dollars. ("American Recovery and Reinvestment Act", investopedia.com)The American Recovery and Reinvestment Act was set in motion as response to the weak economic state that faced the