Business Economics Re-Sit Modular Executive MBA December 2012 Sendra Dorcé Task for Business Economics is shown below: "In 2009 the American Recovery and Reinvestment Act injected a significant fiscal stimulus to the US economy. Describe what the Act involved, and consider the arguments for and against the package. In your view, has the Act helped or hindered the recovery of the US economy from the recession?" DESCRIPTION INVESTOPEDIA Definition of 'American Recovery And Reinvestment Act' An act initiated and signed by U.S. President Barack Obama in February, 2009. The act was set into motion as a response to the weak economic state facing the country. The American Recovery and Reinvestment Act was created to stimulate the economy through individual and corporate tax cuts, leniency in unemployment benefits, increased domestic spending, and increased social welfare funding. Investopedia explains 'American Recovery And Reinvestment Act' The plan will amount to around $787 billion in government spending. The following is a breakdown of the spending in billions: -Tax Cuts - $288 -Healthcare - $147.7 -Education - $90.9 -Environment - $7.2 -Social Welfare - $82.5 -Infrastructure - $80.9 -Energy - $61.3 -Housing - $12.7 -Research - $8.9 -Other investments - $18.1 Read more: http://www.investopedia.com/terms/a/american-recovery-and-reinvestment-act.asp#ixzz2EHC3FQJN HYPERLINK "http://www.recovery.gov/About/Pages/The_Act.aspx" http://www.recovery.gov/About/Pages/The_Act.aspx THE RECOVERY ACT On Feb. 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act has three immediate goals: Create new jobs and save existing ones Spur economic activity and invest in long-term growth Foster unprecedented levels of accountability and transparency in government spending The Recovery Act intended to...
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