human
Write a summary for American Recovery and Reinvestment Act (ARRA) was a stimulus package introduced by the Obama administration in 2009.
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The American Recovery and Reinvestment Act (ARRA) was a stimulus package introduced by the Obama administration in 2009. The act was designed to stop the recession through creation of jobs and to spur investment, effectively increasing output. While most of the arguments for or against the ARRA have been partisan, there is consensus that the net effect of the actRAs has been positive when measured against the common parameters that are used to gauge economic growth.
human
Give me essay for American Recovery and Reinvestment Act (ARRA) was a stimulus package introduced by the Obama administration in 2009. Provide an ). State governments had expanded their payrolls by almost 40,000 mainly through the stimulus funds they were receiving from government. only.
assistant
Though the unemployment rate was stubbornly high in the years leading to the 2012 election, it has since fallen to sustainable single digit levels, a move that has cast a positive outlook on the general employment situation. Economists suggest a job creation rate of over 225,000 to ensure sustainable growth.
Though the numbers have hardly reached that level consistently, every month since 2010 has seen positive job creation numbers a pointer to sustained economic growth momentum thanks to ARRA (Goldstein, 2012, p.35
human
Jobs
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When the new Obama administration came into office, the US was losing an average of 800,000 jobs every month. The White House Council of Economic Advisers, though working at the behest of the president, is a competent body that also works for the tax payer and has a duty to tell the truth to the people especially concerning the economic outlook.
By 2011 according to the council, ARRA had created or saved 3.6 million jobs (Goldstein, 2012, p.32
human
How about a ). The above, regardless of the perspective from which anyone looks at it, is an indication of the success of ARRA. section.
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human
Conclusion
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As pointed out earlier, there is no telling what could have happened if the Obama administration had taken a different path in restoring the economy. However, it is also important to acknowledge that ARRA is the basis of the recovery and economic growth momentum that the country is experiencing at the moment.
Regardless of one’s political leaning, it is important to acknowledge the importance of the actions that the Obama administration took especially on the extension of aid by the federal government to the local and state authorities as well as through increased spending.
There is no doubt that more could have been done to pull the country out of the recession faster than it happened. In fact there is more that can be done to accelerate the economic recovery. However, credit has to be given to ARRA for providing the platform on which the current economic growth is riding on.
human
GDP expansion
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Job creation and a consistently low unemployment rate are some of the major indicators of an economy in the right direction. Job growth is primarily determined by expansion of the gross domestic product. A contracting GDP indicates falling output, meaning less people are engaged in meaningful employment. That is what happened when President Obama took office in 2009.
Contraction of GDP continued till 2010 when it showed signs of recovery thanks to initiatives like ARRA. It is important to note that ARRA rode on a $ 787 billion bill.
This is a significant amount of money that when injected to the economy through increased spending on programs such as infrastructure and tax cuts creates real economic benefits. The net benefit when all factors are held constant is very significant and there is no doubt they were among the factors that propelled the economy out of the recession.
It therefore makes sense to argue that ARRA made it possible for the economy to expand sooner than projected.
human
Delete the last sentence.
assistant
Job creation and a consistently low unemployment rate are some of the major indicators of an economy in the right direction. Job growth is primarily determined by expansion of the gross domestic product. A contracting GDP indicates falling output, meaning less people are engaged in meaningful employment. That is what happened when President Obama took office in 2009.
Contraction of GDP continued till 2010 when it showed signs of recovery thanks to initiatives like ARRA. It is important to note that ARRA rode on a $ 787 billion bill.
This is a significant amount of money that when injected to the economy through increased spending on programs such as infrastructure and tax cuts creates real economic benefits. The net benefit when all factors are held constant is very significant and there is no doubt they were among the factors that propelled the economy out of the recession.
human
Give me ). section.
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Given the sustained economic growth experienced in subsequent years, the number of jobs created since then has more than doubled (Goldstein, 2012, p.21
human
Give me ). section.
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In fact, the effects of the fiscal stimulus have been so pronounced to the point that the economy reported a 3.4% gross domestic grown in 2010, lowering the unemployment rate by one and half percentage points and adding approximately 2.7 million jobs to the economy ( Mihm, 2011, p. 63
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).
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human
Success
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There have been numerous reports and studies since ARRA was enacted. They include those from government, the congressional budget office and other independent institutions. While there may not be any consensus on the various aspects of the reports, the collective conclusion has been that the recession ended in 2009 (Romer, 2011, p. 53
human
Give me the whole essay based on the above.
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##Success
There have been numerous reports and studies since ARRA was enacted. They include those from government, the congressional budget office and other independent institutions. While there may not be any consensus on the various aspects of the reports, the collective conclusion has been that the recession ended in 2009 (Romer, 2011, p. 53##).
In fact, the effects of the fiscal stimulus have been so pronounced to the point that the economy reported a 3.4% gross domestic grown in 2010, lowering the unemployment rate by one and half percentage points and adding approximately 2.7 million jobs to the economy ( Mihm, 2011, p. 63 ##).
Given the sustained economic growth experienced in subsequent years, the number of jobs created since then has more than doubled (Goldstein, 2012, p.21##). The above, regardless of the perspective from which anyone looks at it, is an indication of the success of ARRA.
##Jobs
When the new Obama administration came into office, the US was losing an average of 800,000 jobs every month. The White House Council of Economic Advisers, though working at the behest of the president, is a competent body that also works for the tax payer and has a duty to tell the truth to the people especially concerning the economic outlook.
By 2011 according to the council, ARRA had created or saved 3.6 million jobs (Goldstein, 2012, p.32##). State governments had expanded their payrolls by almost 40,000 mainly through the stimulus funds they were receiving from government.
Though the unemployment rate was stubbornly high in the years leading to the 2012 election, it has since fallen to sustainable single digit levels, a move that has cast a positive outlook on the general employment situation. Economists suggest a job creation rate of over 225,000 to ensure sustainable growth.
Though the numbers have hardly reached that level consistently, every month since 2010 has seen positive job creation numbers a pointer to sustained economic growth momentum thanks to ARRA (Goldstein, 2012, p.35##).
##GDP expansion
Job creation and a consistently low unemployment rate are some of the major indicators of an economy in the right direction. Job growth is primarily determined by expansion of the gross domestic product. A contracting GDP indicates falling output, meaning less people are engaged in meaningful employment. That is what happened when President Obama took office in 2009.
Contraction of GDP continued till 2010 when it showed signs of recovery thanks to initiatives like ARRA. It is important to note that ARRA rode on a $ 787 billion bill.
This is a significant amount of money that when injected to the economy through increased spending on programs such as infrastructure and tax cuts creates real economic benefits. The net benefit when all factors are held constant is very significant and there is no doubt they were among the factors that propelled the economy out of the recession.
It therefore makes sense to argue that ARRA made it possible for the economy to expand sooner than projected.
##Conclusion
As pointed out earlier, there is no telling what could have happened if the Obama administration had taken a different path in restoring the economy. However, it is also important to acknowledge that ARRA is the basis of the recovery and economic growth momentum that the country is experiencing at the moment.
Regardless of one’s political leaning, it is important to acknowledge the importance of the actions that the Obama administration took especially on the extension of aid by the federal government to the local and state authorities as well as through increased spending.
There is no doubt that more could have been done to pull the country out of the recession faster than it happened. In fact there is more that can be done to accelerate the economic recovery. However, credit has to be given to ARRA for providing the platform on which the current economic growth is riding on.