What did obama create to respond to the financial crisis?

American Recovery and Reinvestment Act

Explanation: The American Recovery and Reinvestment Act of 2009 (ARRA) also known as the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009. This federal statute was developed in response to the Great Recession, and its primary objective was to save existing jobs as well as create new ones as soon as possible. The Act also aimed to provide temporary relief programs for those most affected by the recession and invest in infrastructure, education, health, and renewable energy.

The estimated approximate cost of this stimulus package was $787 billion initially at the time of passage, but was later revised to $831 billion. The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic deterioration.

It is generally believed that the economic stimulus package reduced unemployment during this period and that the eventual benefits of the stimulus outweighed the costs.

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1. ford: gerald ford´s presidency, from 1974 to 1977, faced high inflation, named it public enemy nº1, and created the win program (whip inflation now).

2. carter: president from 1977 to 1981, carter had controversial poitions over abortion, but yet, he enforce the roe vs wade decision, which had pro-choice content.

3. reagan. for his eloquency and powerful speeches in his mandates, from 1981 to 1989, reagan earned this nickname, “the great communicator” .

4. george h w bush: despite many presidents had important roles in managing and trying to end the cold war, it was in bush sr's mandate that the berlin wall was materially destroyed, and he was visited by gorbachev in the uspresident from 1989 to 1993.

5. clinton: defense of marriage act. clinton signed this controvesial act, which defined marriage and spouses in strict heterosexual perspective, that was later declard unconstitutional by the us supreme court.

6. george w bush: in the begining of his presidency, which lasted until 2009, bush jr faced the greatest terrorist attacks in us and probably the worlds history, in september, 11 of 2001.

7. obama: in attempts to cease a great economical crisis, barack obama signed the controversial recovery act in february 2009, which handled 780-billion dollars.