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Why Did the American Recovery and Reinvestment Act (ARRA) Fail -- Or Did It?

2015
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Release : 2015
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Book Synopsis Why Did the American Recovery and Reinvestment Act (ARRA) Fail -- Or Did It? by : L. Jan Reid

Download or read book Why Did the American Recovery and Reinvestment Act (ARRA) Fail -- Or Did It? written by L. Jan Reid. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt: The United States Congress approved the American Recovery and Reinvestment Act (ARRA) on February 13, 2009. U.S. President Barack Obama signed the bill into law on February 17, 2009. ARRA was passed in response to widespread fears that the United States was in danger of slipping into a 1930s-style economic depression. After ARRA was enacted, related economic debate centered on tax reductions versus direct federal-government spending. Old arguments resurfaced about the effectiveness of the “New Deal” programs instituted by U.S. President Franklin Roosevelt; the 1936-1938 recession; and the theoretical views of both Keynesian and neoclassical economists.Since ARRA was passed, a number of economists have criticized the effectiveness of the stimulus program. Criticisms have ranged from arguments that “the stimulus was too small to be effective” to assertions of ARRA's failure to address the shortage of qualified workers in the labor force.I briefly review some of these arguments and conduct empirical tests to determine their validity.

The New New Deal

2012-08-14 Political Science
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Release : 2012-08-14
Genre : Political Science
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Book Rating : 342/5 ( reviews)

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Book Synopsis The New New Deal by : Michael Grunwald

Download or read book The New New Deal written by Michael Grunwald. This book was released on 2012-08-14. Available in PDF, EPUB and Kindle. Book excerpt: In a riveting account based on new documents and interviews with more than 400 sources on both sides of the aisle, award-winning reporter Michael Grunwald reveals the vivid story behind President Obama’s $800 billion stimulus bill, one of the most important and least understood pieces of legislation in the history of the country. Grunwald’s meticulous reporting shows how the stimulus, though reviled on the right and the left, helped prevent a depression while jump-starting the president’s agenda for lasting change. As ambitious and far-reaching as FDR’s New Deal, the Recovery Act is a down payment on the nation’s economic and environmental future, the purest distillation of change in the Obama era. The stimulus has launched a transition to a clean-energy economy, doubled our renewable power, and financed unprecedented investments in energy efficiency, a smarter grid, electric cars, advanced biofuels, and green manufacturing. It is computerizing America’s pen-and-paper medical system. Its Race to the Top is the boldest education reform in U.S. history. It has put in place the biggest middle-class tax cuts in a generation, the largest research investments ever, and the most extensive infrastructure investments since Eisenhower’s interstate highway system. It includes the largest expansion of antipoverty programs since the Great Society, lifting millions of Americans above the poverty line, reducing homelessness, and modernizing unemployment insurance. Like the first New Deal, Obama’s stimulus has created legacies that last: the world’s largest wind and solar projects, a new battery industry, a fledgling high-speed rail network, and the world’s highest-speed Internet network. Michael Grunwald goes behind the scenes—sitting in on cabinet meetings, as well as recounting the secret strategy sessions where Republicans devised their resistance to Obama—to show how the stimulus was born, how it fueled a resurgence on the right, and how it is changing America. The New New Deal shatters the conventional Washington narrative and it will redefine the way Obama’s first term is perceived.

Seven Steps for States and Regions to Prepare for the American Recovery and Reinvestment Act

2009
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Release : 2009
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Book Synopsis Seven Steps for States and Regions to Prepare for the American Recovery and Reinvestment Act by : Workforce Strategy Center

Download or read book Seven Steps for States and Regions to Prepare for the American Recovery and Reinvestment Act written by Workforce Strategy Center. This book was released on 2009. Available in PDF, EPUB and Kindle. Book excerpt: Through the American Recovery and Reinvestment Act (ARRA) the federal government is pumping nearly $790 billion dollars into state and local coffers to strengthen the United States economy. In order to stimulate the economy as quickly as possible, states are being asked to invest much of this funding into regions within 30 days, and to have the funding obligated and spent within the next 18 months. In addition to getting the money out quickly, states and regions have the enormous challenge of having to figure out how to make the best and most strategic use of the funding. Most important, is how to do this so that low-income youth and adults can attain the postsecondary credentials they need to earn family sustaining wages. Presented in this paper are some basic steps states and regions might consider taking to determine how to use the stimulus. First, there are three points to keep in mind: (1) ARRA funding, and whatever system might be created with the stimulus and other available dollars, "are the means to an end"; (2) the goal is to get people jobs and jump start the economy; and (3) to have a sustained effect, short-term actions need to be part of a long-term plan.

The End of an ARRA

2011
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Release : 2011
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Book Synopsis The End of an ARRA by : Carl Vogel

Download or read book The End of an ARRA written by Carl Vogel. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt: In the winter of 2009, with more than 1.4 million job losses in the first two months of the year, the federal government passed the American Recovery and Reinvestment Act (ARRA) into law as a way to quickly inject liquidity into a stalling economy and maintain critical services that would allow individuals and communities to survive through the recession. At first glance, New York City made out pretty well. More than $7 billion in Recovery Act funds went to programs benefiting New York City residents, which was more than many entire states received. These funds went toward failing schools, community development block grants, building retrofits and a much needed temporary increase in the federal match for Medicaid, among many other things. The most important way of assessing these investments has always been in terms of the jobs saved and people helped, but from the beginning it was also hoped that Recovery Act investments would provide a unique opportunity for policy innovation and reform. In no policy area was this truer than in workforce development. And in no other city would the payoff and potential pitfalls be clearer than in New York, the country's largest workforce development system. The 2009 federal stimulus brought a huge infusion of funds to New York City for job training and workforce development; with the money now running out, the authors examine how the funds were spent and what the end of this funding stream means at a time when countless New Yorkers are still out of work. The Programs are appended. (Contains 16 endnotes.).

The American Recovery and Reinvestment Act of 2009

2010 Business & Economics
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Release : 2010
Genre : Business & Economics
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Book Synopsis The American Recovery and Reinvestment Act of 2009 by : United States. Congress. House. Committee on the Budget

Download or read book The American Recovery and Reinvestment Act of 2009 written by United States. Congress. House. Committee on the Budget. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt:

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