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The Politics of Hop1 - ThePoliticsofHope Athome,$787billion...

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The Politics of Hope At home, the administration addressed the mounting economic crisis with a $787 billion  stimulus act designed to bring growing unemployment down to manageable levels. The  legislation doubtless saved or created many jobs, but it failed to prevent unemployment  — officially estimated at 7.7 percent of the labor force when Obama took office — from  increasing to a high of 10.1 percent, then receding just a bit. The loans to large  investment and commercial banks begun during the Bush administration with the  objective of restoring a stable financial system were mostly repaid with a profit to the  government, but a few remained outstanding as the president began his second year in  office. In addition, the government invested heavily in two giant auto makers — General 
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