econ101fall11lecture13

econ101fall11lecture13 - Obama Stimulus Package American...

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Obama Stimulus Package • American Recovery and Reinvestment Act of 2009 (ARRA) • Passed by Congress on February 13, 2009 • Signed into law by President Obama on February 17, 2009 • Size of the Stimulus = $787billion • Largest Fiscal Stimulus in US History 1 5% o f G D P 2   
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Recommended Readings Listed on the Course Website • “ARRA of 2009”—Wikipedia (10/11) • “Economic Impact of ARRA”—CEA (7/11) • “Estimated Impact of the ARRA on Employment and Economic Output”-- CBO (8/11)
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“Happy Birthday ARRA: The ARRA One Year Later”—CRFB (2/10) • “Happy Second Birthday ARRA”—CRFB (2/11) Notation: CEA: Council of Economic Advisers CBO: Congressional Budget Office CRFB: Committee for a Responsible Federal Budget
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Obama Stimulus Package Objectives Prevent a Very Serious Recession from Occurring Initiate a Robust Recovery
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State of the Economy: 2008-4th Quarter
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Real GDP Growth Quarterly Percentage Changes at an Annual Rate 2007-I through 2008-IV
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Private Sector Employment September, 2007 through January, 2009 Monthly Changes in Thousands
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The Worry with No Stimulus
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The Goal of the Stimulus
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This note was uploaded on 01/12/2012 for the course ECON AS.180.101 taught by Professor Maccini during the Fall '08 term at Johns Hopkins.

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econ101fall11lecture13 - Obama Stimulus Package American...

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