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Daily Archives: January 24, 2009

White House Releases The American Reinvestment and Recovery Plan

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The American Reinvestment and Recovery Plan – By the Numbers

  • “The American economy is in the midst of a crisis unlike any we have seen in our lifetime. The economy lost 2.6 million jobs in 2008, the most of any year since World War II. Manufacturing activity is at its lowest level in twenty-eight years. Consumer spending is declining and confidence is at historic lows. Many experts believe unemployment could reach double digits if no action is taken. In light of this historic economic weakness, President Obama is working with Congress to enact an American Recovery and Reinvestment Plan, a nationwide effort to create jobs and transform our economy to compete in the 21st century. The plan invests in clean energy, health care, education and infrastructure; cuts taxes for American families and businesses; and helps protect the most vulnerable families from economic harm during the recession. This plan will also break from conventional Washington approaches to spending by ensuring that public dollars are invested effectively and that the economy recovery package is fully transparent and accountable to the American people.”
  • Related postings on financial system

    • Senate Finance Cmte Mark: American Recovery and Reinvestment Bill of 2009

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    News release includes detailed summary: “Senate Finance Committee Chairman Max Baucus (D-Mont.) today unveiled an original Chairman’s Mark of economic recovery provisions for inclusion in the American Recovery and Reinvestment Act of 2009, including $275 billion in tax cuts and investments that will create jobs in fields like green energy, highways, and health care, and… Continue Reading