2009 Stimulus Package Multiple Chapters

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2009 Stimulus Package. The stimulus was $787 billion. The questions: What is the breakdown of spending allocated by state? Where did the money go?

The 2009 Stimulus Package

The American Recovery and Reinvestment Act of 2009, (ARRA) otherwise known as the Stimulus package was signed in 2009 by Obama as reaction to the recession and designed to create jobs as soon as possible and to help those hit by the recession. Other objectives were to provide temporary relief for those impacted by the recession and to create solutions for infrastructure, education, health, and 'green' energy. The approximate cost of the package at the time of passing was $787 billion. This was later revised to $831 billion between 2009 and 2019 (CBO (2012)

The Stimulus package was based on Keynesian economics that argued that during periods of economic hardship, the government should step in by increasing public spending which would in turn stimulate more private spending by giving people the money to do so and by creating a large flow of money in the economy.

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Doing so would also save form further deterioration.

The money distributed to each state went to: aid for the poor and unemployed; Infrastructure; health care; helping each state with their budget; education, homeland security; and law enforcement.

The breakdown is shown below.

The independent variable is the 2009 Stimulus Package. The dependent variable is the way this Package stimulated factors of the economy.

The breakdown

1. Aid to poor and unemployed

a. $40 billion to provide extended unemployment benefits through December and to increase this by $25 per week.

b. $20 billion is contributed to additional food stamps and to increase this by %14

c. $3 billion is allocated for temporary welfare benefits.

2. Direct cash payments

$14 billion is allocated for one-time $250 payments to Social Security recipients, poor people on Supplemental Security Income, and veterans receiving disability and pensions.….....

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