Historic Stimulus Strives to Spur Economy
In an attempt to address the nation’s ongoing economic challenges, Congress has passed and the president has signed the American Recovery and Reinvestment Act of 2009. The $787 billion package is remarkable not only in its scale and scope but in the speed of its passage as well. The bill combines $282 billion in tax relief with more than $500 billion in government spending that ranges from meeting basic human needs to investments in infrastructure and scientific research. The resulting increase in the federal budget deficit is expected to equal about 2.5% of gross domestic product for two years in…