The American Recovery and Reinvestment Act was signed into law by President Obama on February 21, 2009. The law had three major goals which were all aimed at stimulating a sluggish US economy. The first goal was to create new jobs and save existing ones by tax credits for hiring new employees. The second goal was to spur economic activity and investment in long term growth by increasing the amount of business asset that could be acquired by companies while allowing for immediate deductions for the cost of the assets as well as numerous tax credits for individuals and businesses. The third goal was to foster unprecedented levels of accountability and transparency in government spending by requiring recipients of recovery act funds to post acknowledgements on the Recovery.gov website.
The total cost of the Recovery act to US taxpayers was $787 billion dollars. The bill itself was created with the belief that increases in spending on the federal level would create and save jobs during recessions. More specifically, the purpose of the bill was to create jobs, drop the unemployment rate, stimulate the economy, have better quality of schools, and have better quality and efficiency of everyday life. The allocations of funds designated by the law are as follows: $81 Billion for protecting the vulnerable, $43 billion for energy, $59 billion for healthcare, $144 billion for state budget relief, $8 billion for other needs, $111 Billion for infrastructure and science, $53 Billion in education and jobs training, and the largest portion $288 Billion in the form of tax relief through the use of tax credits and increase business deductions.
The largest component of the bill was the $288 billion allocated to tax cuts. Businesses as w...
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Internal Revenue Service, (2011). Arra and the earned income tax credit Retrieved from http://www.irs.gov/newsroom/article/0,,id=205666,00.html
Internal Revenue Service, (2011). Energy incentives for individuals in the american recovery and reinvestment act Retrieved from http://www.irs.gov/newsroom/article/0,,id=206875,00.html
Internal Revenue Service, (2011). First-time homebuyer credit Retrieved from http://www.irs.gov/newsroom/article/0,,id=204671,00.html
The making work pay tax credit. (2011, June 17). Retrieved from http://www.irs.gov/newsroom/article/0,,id=204447,00.html
Recovery.gov track the money. (n.d.). Retrieved from http://www.recovery.gov/FAQ/Pages/ForCitizens.aspx
Recipient reported awards map. (2011, June 22). Retrieved from http://www.recovery.gov/Transparency/RecipientReportedData/Pages/RecipientReportedDataMap.aspx
A series of measures took the nation off the gold standard, thereby offering some assistance to debtors and exporters. He also got Congress to appropriate $500 million in federal relief grants to states and local...
One of the most important aspects of Reagan’s time in office was his domestic policy. He knew to have a successful presidency and create a strong, the people of the United States needed to be cared for. His first goal was to turn the economy around from the stagflation it encounter in the Carter era. Stagflation is very similar to inflation. The main difference is that inflation is the result of a quick economic growth while causes the value of money to decrease with now economic growth. To accomplish the turn around, Reagan introduce his economic policy which became known as Reaganomics. Reaganomics was based in supply side economics. This economic theory says that lowering taxes through tax cuts increases revenue by allowing more money
...vailable for stimulus programs to boost the economy out of the 2008 financial crisis. This caused fewer jobs to be created, which meant less tax revenue and more debt.
This made the government spend a lot of their money on programs to help recover all the lost jobs and to give businesses the confidence to spend money also. When the businesses saw that the government was actually willing to spend money it gave the business owners confidence to spend their money. Once the money started circulating around the economy would start slowly growing. The New Deal Programs were diverse relief schemes such as the Tennessee Valley Authority (TVA), Public Works Administration (PWA), Civil Works Administration and the National Recovery Administration (NRA).
The New Deal was a set of acts that effectively gave Americans a new sense of hope after the Great Depression. The New Deal advocated for women’s rights, worked towards ending discrimination in the workplace, offered various jobs to African Americans, and employed millions through new relief programs. Franklin Delano Roosevelt (FDR), made it his duty to ensure that something was being done. This helped restore the public's confidence and showed that relief was possible. The New Deal helped serve American’s interest, specifically helping women, african american, and the unemployed and proved to them that something was being done to help them.
The Dodd-Frank Wall Street Reform and Consumer Protection Act brought the most significant changes to financial regulation in the United States since the reform that followed the Great Depression. It made changes in the American financial regulatory environment that affect all federal financial regulatory agencies and almost every part of the nation’s financial services industry. Like Glass-Steagall, the legislation passed after the Great Depression, it sought to regulate the financial markets and make another economic crisis less likely. Banks were deregulated in 1999 by the Gramm-Leach-Biley Act, which repealed the Glass-Steagall Act and essentially allowed for the excessive risk taken on by banks that caused the most recent financial crisis. The Financial Stability Oversight Council was established through the Dodd-Frank Wall Street Reform and Consumer Protection Act and was created to address the systemic risks in the United States financial system and to improve coordination among financial regulators.
Hoffman, Kathy Barks. "Rick Snyder presents $45 billion budget; cuts to education, personal tax exemptions." Oakland Press, February 17, 2011: 1-3.
...35). This important piece of legislation saved millions of dollars in taxpayer money, jobs, and led to economic prosperity for Americans.
After about twelve years of the DREAM Act floating around in congress, many people on both sides of the issue are unsure of what will happen. For some, the fact that it has been around for long without much progress means that the DREAM Act will not pass. On the other side of this issue, the dreamers, continue fighting to keep the DREAM Act alive, so that all the immigrant students can continue to post secondary education, and not have to stop their education at the end of 12th grade. These young immigrants were brought here when they were younger and have lived in the United States most of their life. They are known as dreamers because many of them cannot continue their education due to the barriers placed on them because of their undocumented status. Those who wish to continue to a post secondary education have to pay higher out-of-state tuition rates. The passing of the DREAM Act will provide a path to legalization for educated and dedicated individuals who will continue to contribute a lot to the U.S. economy and in many other ways. The majority of undocumented students were brought to the U.S. when they were small children, and they “should be allowed to have the chance to stay in the country call home” (Bennion).
Every year, about 2.8 million students graduate from a United States high school. They have dreams of going to college or to the military to have an opportunity to make something of their lives. However, each year, there is also a group of about 65,000 students who will not have that chance to advance in their lives (CIR_DREAM paragraph 1). They are unable to do so because they were brought to the US illegally by their parents when they were children, and have the status of an illegal immigrant. Despite the fact that these individuals have lived their entire lives in the US, this immigration status hinders their ability to obtain a higher education. Although an immigrant may have been residing in the state for years, they are not allowed to receive in-state tuition for college and must pay the high out of state or the international student tuition instead. Due to the fact that they are illegal immigrants, most individuals in these families are not able to acquire jobs that pay higher than minimum wage and cannot afford to go to college because of these high tuition rates. Some of these individuals were among the top ranked students in their high schools and have the dedication and determination to achieve whatever they set their mind to. This problem hinders their ability to achieve their goals. This issue affects me on a personal level because one of my very good friends is currently having this dilemma. He is a documented illegal immigrant who came to the US on a Visa. He spent half of his life here, achieved high marks in high school, and enrolled in college. However, due to the recent economic downfalls, his family cannot afford to stay in the US, and my friend is not able to stay in the US on his own because he cannot afford ...
...avoiding even deeper collapse of the global GDP and of employment. The government also created the Troubled Asset Relief Program (TARP), for the establishment and administration of the treasury fund, in an effort to control the ongoing crisis.
The New Deal period has generally - but not unanimously - been seen as a turning point in American politics, with the states relinquishing much of their autonomy, the President acquiring new authority and importance, and the role of government in citizens' lives increasing. The extent to which this was planned by the architect of the New Deal, Franklin D. Roosevelt, has been greatly contested, however. Yet, while it is instructive to note the limitations of Roosevelt's leadership, there is not much sense in the claims that the New Deal was haphazard, a jumble of expedient and populist schemes, or as W. Williams has put it, "undirected". FDR had a clear overarching vision of what he wanted to do to America, and was prepared to drive through the structural changes required to achieve this vision.
The United States faced the worst economic downfall in history during the Great Depression. A domino effect devastated every aspect of the economy, unemployment rate was at an all time high, banks were declaring bankruptcy and the frustration of the general public led to the highest suicide rates America has ever encountered. In the 1930’s Franklin D Roosevelt introduced the New Deal reforms, which aimed to “reconcile democracy, individual liberty and economic planning” (Liberty 863). The New Deal reforms were effective in the short term but faced criticism as it transformed the role of government and shaped the lives of American citizens.
US Energy Information Administration, Federal Energy Subsidies Direct and Indirect Interventions in Energy Markets, DOE/EIA-EMEU/92-02
The 3 R’s had a great amount to do with the New Deal. The 3 R’s were the main goal for the “New Deal”. These 3 R’s being relief, recovery, and reform. These were the three programs that were going to help America fight the Great Depression. The relief was going to help provide temporary help for Americans. This was targeting unemployed and suffering Americans. The Works Progress Administration (WPA) and the Civilian Conservation Corps (CCC) are two examples of the relief. They both provided jobs to millions of unemployed Americans and helped stimulate the economy. This category was most effective in stemming the turmoil of the depression. This is because the relief is what initially came about and helped many, actually millions of