The Prez Dispenser! from BigFurhat at iOwnTheWorld.com

In honor of Prezident Obama signing the stimulus package, The Prez Dispenser!

The American Recovery and Reinvestment Act of 2009, abbreviated ARRA (Pub.L. 111-5) and commonly referred to as the Stimulus or The Recovery Act, is an economic stimulus package enacted by the 111th United States Congress in February 2009.

The stimulus was intended to create jobs and promote investment and consumer spending during the recession. The rationale for the stimulus comes out of the Keynesian economic tradition that argues that government budget deficits should be used to cover the output gap created by the drop in consumer spending during a recession. The modern consensus (a blend of thinking from New Keynesian and New Neo-classical theory in economics) favors monetary over fiscal policy like the fiscal stimulus.[1] However, the Federal Reserve had already cut interest rates to zero, greatly reducing their policy options. The flow of finances was stagnated because of a liquidity trap, or an over leveraged/broke banking system, also limiting monetary policy effectiveness. While many economists agreed a fiscal stimulus was needed under these conditions, others maintained that fiscal policy would not work because government debt would use up savings that would otherwise go to investments, what economists call crowding out. Proponents countered that the negative effects of crowding out are limited when investment has already stagnated.

The measures are nominally worth $787 billion. The Act includes federal tax incentives, expansion of unemployment benefits and other social welfare provisions, and domestic spending in education, health care, and infrastructure, including the energy sector. The Act also includes numerous non-economic recovery related items that were either part of longer-term plans (e.g. a study of the effectiveness of medical treatments) or desired by Congress (e.g. a limitation on executive compensation in federally aided banks added by Senator Dodd and Rep. Frank).

No Republicans in the House and only three Republican Senators voted for the bill.[2][3][4] The bill was signed into law on February 17 by President Barack Obama at an economic forum he was hosting in Denver, Colorado.[5]

As of the end of August 2009, 19% of the stimulus had been outlaid or gone to American taxpayers or businesses in the form of tax incentives.

The House version of the bill, H.R. 1, was introduced on January 26, 2009.[7] It was sponsored by Democrat David Obey, the House Appropriations Committee chairman, and was co-sponsored by nine other Democrats. On January 23, Speaker of the House Nancy Pelosi said that the bill was on track to be presented to President Obama for him to sign into law before February 16, 2009.[8] Although 206 amendments were scheduled for floor votes, they were combined into only 11, which enabled quicker passage of the bill.[9]

On January 28, 2009, the House passed the bill by a 244-188 vote.[10] All but 11 Democrats voted for the bill, and 176 Republicans voted against it (two Republicans did not vote). * Aid to low income workers and the unemployed o Senate - $47 billion to provide extended unemployment benefits through Dec. 31, increased by $25 a week, and provide job training; $16.5 billion to increase food stamp benefits by 12 percent through fiscal 2011 and issue a one-time bonus payment; $3 billion in temporary welfare payments. o House — Comparable extension of unemployment insurance; $20 billion to increase food stamp benefits by 14 percent; $2.5 billion in temporary welfare payments; $1 billion for home heating subsidies and $1 billion for community action agencies. * Direct cash payments o Senate — $17 billion to give one-time $300 payments to recipients of Supplemental Security Income and Social Security, and veterans receiving disability and pensions. o House — $4 billion to provide a one-time additional Supplemental Security Income and Social Security Disability Insurance payment to the elderly, of $450 for individuals and $630 for married couples. o Conference - $250 one-time payment to each recipient of Supplemental Security Income, Social Security (Regular & Disability) Insurance, Veterans pension, Railroad Retirement, or State retirement system.[24]

Category:

Comedy

Tags:

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• obama stimulus package
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[IOTW2009]

What the heck happened to our video?!!

[BestPoliticalVideos]

@bigfurhat

FAKE YOUTUBE ACCOUNT! NOT the REAL BIGFURHAT! You're a DOUCHE!

[LizzyxDarcy]

Good job... cute and funny

[DisruptiveEchoes]

@IOTW2009 sup dawg I heard you liak... I got nothing

[alahatim]

Better be careful here - you got a white man with a rope near a black man's neck.............

I can see these crazy libs crying bloody murder over the racism depicted here!

[ImDiscombobulated]

That's pezident barry alright.

mz. pillosi and scary reid turning the WH into a the circus house.

[KillerSwift7]

PERFECT FUCKING DISPLAY, That is actually EXACTLY how it really is.

[Hardliner1269]

Porkulus 2 en route with a different name

P.O.R. House

[ChrisPCrunchy]

Would be funny except all the money is going to wealth bankers while our children and grandchildren will be paying off the debt forever.

[Jewelrylover111]

I loved Nancy's 'yay' and also that was HILLARIOUS!

[Tuberriffic]

LMFAO!