Happy Birthday ARRA: The American Recovery and Reinvestment Act One Year Later

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A year after its creation, the ARRA has disbursed about $300 billion, of the now $862 billion, through spending increases and tax breaks. Almost all economists agree that the ARRA has helped to mitigate the crisis, but there is debate over the extent to which it has helped. If policymakers decide to enact additional stimulus or extend existing provisions, they should focus on measures which can do the most good at the least cost, and should fully offset any costs over the long-run.