News / USA

    Report on US Economic Stimulus Rekindles Debate 5 Years Later

    FILE - A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange, July 11, 2013.
    FILE - A trader looks up at a chart on his computer screen while working on the floor of the New York Stock Exchange, July 11, 2013.
    Reuters
    President Barack Obama marked the five-year anniversary of a controversial economic stimulus plan by releasing a report on Monday saying that government spending averted a second Great Depression, setting off a new round of partisan debate about the decision.
     
    Obama had been in office only a month when he signed the American Recovery and Reinvestment Act of 2009, a $787 billion stimulus that Democratic majorities in both the Senate and House of Representatives passed over the objections of Republicans.
     
    Many Americans remain doubtful about how helpful the stimulus was for an economy that still struggles to recover from a deep recession that took hold in 2008.
     
    The White House, eager to lay to rest those doubts, issued a five-year report that said the stimulus generated an average of 1.6 million jobs a year for four years through the end of 2012.)
     
    The stimulus by itself raised the level of gross domestic product by between 2 percent and 3 percent from late 2009 through mid-2011, said the report, issued by the White House Council of Economic Advisers.
     
    Jason Furman, chairman of the council, said the Recovery Act had a “substantial positive impact on the economy, helped to avert a second Great Depression, and made targeted investments that will pay dividends long after the act has fully phased out.”
     
    Republicans, who are attempting to oust Democrats from control of the Senate and build on their House majority in November elections, were quick to raise objections to the White House report.
     
    House Speaker John Boehner, the top U.S. Republican, said the stimulus turned out to be a classic case of “big promises and big spending with little results.”
     
    “Median household incomes are down. Prices on everything from gas to groceries are higher. A new normal of slow growth has set in, with most now saying the worst is yet to come,” Boehner said in a statement.
     
    The battle over the stimulus remains relevant today as Obama seeks congressional approval of infrastructure spending intended to create jobs.
     
    “Five years later, the stimulus is no success to celebrate. It is a tragedy to lament,” said Senate Republican leader Mitch McConnell in an opinion article for Reuters.

    You May Like

    Ethiopia's Anti-terrorism Law: Security or Silencing Dissent?

    Yonatan Tesfaye was detained in December 2015 on charges under Ethiopia's Anti-Terrorism Proclamation; eleven statements from his Facebook page were used as evidence

    Egypt Orders Trial for Journalists Charged With Harboring Reporters

    Order targets journalists' union chief Yehia Qalash, Khaled al-Balshy and Gamal Abdel Rahim for allegedly spreading false news, harboring fugitive colleagues

    Nigerian Oil Production Falls as Militant Attacks Take Toll

    Country no longer Africa's petroleum king due to renewed militancy in its oil-producing region

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    New Chapter for Tunisia's Ennahdai
    X
    Lisa Schlein
    May 31, 2016 1:56 PM
    Tunisia’s moderate Islamist Ennahda party says it is separating its religious and political activities in a broader bid to mark its so-called Muslim Democratic identity. The move appears to open a new chapter for a party that bounced back from the political wilderness of Tunisia’s pre-revolution days to become a key player in the North African country, and a member of the current coalition government. From Tunis, Lisa Bryant takes a look at how Tunisians are viewing its latest step.
    Video

    Video New Chapter for Tunisia's Ennahda

    Tunisia’s moderate Islamist Ennahda party says it is separating its religious and political activities in a broader bid to mark its so-called Muslim Democratic identity. The move appears to open a new chapter for a party that bounced back from the political wilderness of Tunisia’s pre-revolution days to become a key player in the North African country, and a member of the current coalition government. From Tunis, Lisa Bryant takes a look at how Tunisians are viewing its latest step.
    Video

    Video New Mobile App Allows Dutch Muslims to Rate their Imams

    If a young Dutch-Moroccan app developer has his way, Muslims in the Netherlands will soon be able to rate their imams online. Mohamed Mouman says imams rarely get feedback from their followers. He believes his app can give prayer leaders a better picture of what's happening in their communities — and can also keep young people from being radicalized. Serginho Roosblad reports from Amsterdam.
    Video

    Video Moscow Condemns NATO Plans to Beef Up Defense in Eastern Europe, Baltics

    NATO Secretary General Jens Stoltenberg said Monday an upcoming "landmark summit" will enhance the alliance's defensive and deterrent presence in eastern Europe and the Baltics. He is visiting Poland ahead of the NATO Summit in Warsaw. Zlatica Hoke reports
    Video

    Video Tech Startups Showcase Wares at Amsterdam Conference

    More than 20,000 tech enthusiasts, entrepreneurs and lovers of digital technology came together in Amsterdam recently at the Next Web Conference to discuss the latest developments in digital technology, look to the future and, of course, to connect. In recent years, there has been an explosion of so-called startup businesses that have created devices and applications that have changed the way we live; but, as Serginho Roosblad reports for VOA, there are pitfalls for such startups as well.
    Video

    Video US Military's Fallen Honored With Flags

    Memorial Day is a long weekend for most Americans. For some, it is the unofficial start of summer -- local swimming pools open and outdoor grilling season begins. But Memorial Day remains true to its origins -- a day to remember the U.S. military's fallen.
    Video

    Video Rolling Thunder Rolls Into Washington

    The Rolling Thunder caravan of motorcycles rolled into Washington Sunday, to support the U.S. military on the country's Memorial Day weekend
    Video

    Video A New Reading Program Pairs Kids with Dogs

    Dogs, it is said, are man's best friend. What some researchers have discovered is that they can also be a friend to a struggling reader. A group called Intermountain Therapy Animals trains dogs to help all kinds of kids with reading problems — from those with special needs to those for whom English is a second language. Faiza Elmasry has more on the New York chapter of R.E.A.D., or Reading Education Assistance Dogs, in this piece narrated by Faith Lapidus.
    Video

    Video Fan Base Grows for Fictional Wyoming Sheriff Longmire

    Around the world, the most enduring symbol of the U.S. is that of the cowboy. A very small percentage of Americans live in Western rural areas, and fewer still are cowboys. But the fascination with the American West is kept alive by such cultural offerings as “Longmire,” a series of books and TV episodes about a fictional Wyoming sheriff. VOA’s Greg Flakus recently spoke with Longmire’s creator, Craig Johnson, and filed this report from Houston.
    Video

    Video Chinese-Americans Heart Trump, Bucking National Trend

    A new study conducted by three Asian-American organizations shows there are three times as many Democrats as there are Republicans among Asian-American voters, and they favor Hillary Clinton over Donald Trump. But one group, called Chinese-Americans For Trump, is going against the tide and strongly supports the business tycoon. VOA’s Elizabeth Lee caught up with them at a Trump rally and reports from Anaheim, California.
    Video

    Video Reactions to Trump's Success Polarized Abroad

    What seemed impossible less than a year ago is now almost a certainty. New York real estate mogul Donald Trump has won the number of delegates needed to secure the Republican presidential nomination. The prospect has sparked as much controversy abroad as it has in the United States. Zlatica Hoke has more.
    Video

    Video F-35 Fighter Jet Draws Criticisms as Costs Mount

    America’s latest fighter plane, the F-35, has been mired in controversy. Critics cite cost, faulty design, and the attempt to use it to fill multiple roles. Even the pilot’s helmet is controversial. VOA’s Bernard Shusman reports from New York.
    Video

    Video Concerns Over Civilian Suffering as Iraqi Forces Surround Fallujah

    Thousands of residents are trapped inside the IS-held city ahead of a full scale Iraqi offensive aimed at retaking it.

    Special Report

    Adrift The Invisible African Diaspora