Stimulus Reform

The Welfare Reform Act of 1996 was an attempt by the government to get people to be more efficient and less reliant on the government. There was a sort of “exchange” between the government and citizens. Citizens work and in return they receive financial assistances. This is referred to as the TANF, Temporary Assistance to Needy Families. It was supposed to motivate people to work, or that was the goal. Recipients were required to work at least 20 hours a week. This was actually successful in decreasing the number of Americans who were dependent on welfare systems. As diversity greatly increased, the need for welfare also increased. Welfare reform efforts were attempted because of the various changes occurring. Welfare in the United States is

A newest way to finance health care now days is the health care reform which it is also called Obama Care. The Affordable Care Act was signed into law in 2010. The main objective behind the Affordable Care Act was to ensure that affordable health care insurance was available to every U.S citizen. This law is an extensive document that contains many regulations and laws that relate not only to health care but also to the regulation of insurance companies. One of the best known regulations is that group health plans can no longer put limitations or deny benefits to individuals under the age of 19 due to pre-existing conditions and individuals under the age of 26, are now eligible to be covered under their parents’

Since the creation of the United States, they loathed taxes, especially when the British taxed them without any representation. The United States anger towards taxes started the American Revolution; However, the United States needed some form of taxes to pay for the military. The military and several other things are what makes a country; however, there are some things that taxes pay for that should either be terminated or improved. A few things that taxes pay for does not contribute to the economy, instead, it costs the taxpayers excessive amount of tax money. In order for the country to decrease taxes or contribute to more education, security, and modern infrastructure, they need to terminate or improve the welfare and the war on drugs.

It was called the stimulus bill, The President decided that his goal was to get the republicans in Congress on board as well. He promised the people that he would make bipartisan solutions. Bipartisan is contrary to Partisanship, the act of being biased or showing favoritism toward a particular cause (Klein). Essentially, Mr. President wanted to make a decision that was agreed on by both parties. Obama worked hopelessly with the opposing party, even offering tax cuts that he thought would make them more likely to vote the bill through congress. As stated by a newscaster, “He failed completely at his goal for bipartisan support.” The viewers see a drastic change in Obama's goal to work together. The President tried hopelessly to get a bill passed and had an unsuccessful attempt to make a bipartisan decision. Obama was forced to boot the republicans and rely solely on the democrats votes to get the stimulus bill passed, “The stimulus bill passed the House without a single Republican vote.” It was as if the President was taking it into his own hands and put his main goal aside, to work

On November 4, 2008, candidate Barack Obama was elected for the first term of his presidency. The following February, The American Recovery and Reinvestment Act of 2009—or the ARRA—was signed into effect by congress, and made into law by President Obama on February 17, 2009. This stimulus package was originally proposed to be 816 billion dollars, but was eventually raised to be 840 billion dollars in 2012. The purpose of this bill was to inspire confidence in the American people that the economy would be up and running again. The ARRA was intended to give money back to small businesses as well as the American families who ran and worked at these businesses. This varies from TARP, or the Troubled Asset Recovery Program, which was a bill that was aimed at bailing out banks in October 2008. TARP worked to allow banks in danger to participate in reverse auction, in order to sell their assets.

The US pays twice as much yet lags other wealthy nations in such measures as infant mortality and life expectancy, which are among the most widely collected, hence easily compared, international statistics. Many people are underinsured, for example, in Colorado "of those with insurance for a full year, 36.3% were underinsured."[6][7] About 10.7 million insured Americans spend more than a quarter of their annual paychecks on health care because of the high deductible polices.[8]

A survey of 37 economists conducted by the University of Chicago in 2014, for example, found that nearly all believed that without the stimulus, the unemployment rate would have risen higher than it did.” In addition to this, President Obama strategized new regulations to protect consumers and to prevent another financial crisis. In 2009 and 2010, he signed the Credit Card Accountability Responsibility and Disclosure Act, the Dodd-Frank Wall Street Reform and the Consumer Protection Act into law. The CCARD Act restricted and obligated interest rates on credit card companies and obligated them to enact transparent policies. The Dodd-Frank created the Financial Stability Oversight Council and the Consumer Financial Protection Bureau which could disintegrate banks if it was possible to fail for any reason including but not limited to subprime loans.

Post the Civil Rights movements in the United States it is visible the upswing in wars; it went form war to poverty, to war to drug, to war to terrorist. Immigration law is very complex, and as result there is much confusion as to how immigration law works in reality. Most people get confused thinking that because United States is a country built of Immigrants however immigrants have experienced discriminatory process, for example: the Chinese exclusion Act. In which at certain point America wanted immigrants in the country and then suddenly the government does not what them anymore and expulse them of their soil.

During 1996 President Bill Clinton signed The Personal Responsibility and Work Opportunity Reconciliation Act, which is a comprehensive bipartisan welfare reform that would change the world’s welfare system into one that is obligates work in exchange for limited time assistance. The law consist of durable work requirements, achievement bonus to reward states for moving welfare recipients into jobs, child support implementation, state maintenance of effort requirements, and supports for families willing to work rather than stay on welfare. It also provided money for child care and medical insurance. “From Clinton’s perspective, the challenge of welfare reform is simply to find the money, the mechanisms, and the generosity of spirit to make this

Barack Obama’s policies are still in effect and apparently working. The proof is in, government spending cures an economy, just like John Maynard Keynes says. But, are Obama’s policies working? Princeton University Professor Alan S. Binder and Moody Analytics Chief Economist Mark Zandi published “How the Great Recession Was Brought to an End” in July, 2010. They calculated the effectiveness of various parts of President Obama’s American Recovery and Reinvestment Act of 2009 package with a comparison of how much each type of economic policy actually translated into an economic benefit – how much bang did each buck provide. Binder and Moody calculated “The bang for the buck is estimated by the one year $ change in GDP for a given $ reduction in federal tax revenue or increase in spending”.

The United States is dealing with a serious issue when it comes to illegal immigration. Immigration reform has been in the works for many years and not acted on because of the failures of both Congress and the President. The following policy report will outline the problems with illegal immigration and include recommendations to solve the issue.

Fiscal policy: Given the breadth and depth of this recession, it was clear that the Treasury and the entire Obama administration had to take bold actions. In fact, right at the beginning, they were committed to a fiscal stimulus policy package which would be “substantial” enough to pull the economy out of the recession. The final stimulus package signed into law in 2009, the American Recovery and Reinvestment Act, was totaled $787 billion including about one-third tax cuts and one-third aid for states and the unemployed. Of the rest, labor health and education investment got 8%, and infrastructure investment got about 7%. It also included a large amount of government money to

Observers of failed economic stimulus packages have developed a fear that these large sums of funding will be mismanaged and therefore will not be able to stimulate the economy (“History of Government Spending,” n.d.).

The policy response from the G.W. Bush is that there are three main parts to the fiscal policy stimulus. An individual tax that the Internal Revenue service sent out started in mid-2008. There were two business provisions that encourage investment during 2008 by increasing limits on expensing investment costs and accelerate depreciation of qualifying investments. The specific steps taken in early 2008 were the home owner purchases rebate and tax cuts.

I consider the general principles of fiscal stimulus and the role of tax measures. Because fiscal stimulus does not create output and jobs from thin air, but “borrows” them from the future, stimulus must be properly timed to be beneficial. Although it is reasonable to pursue fiscal stimulus under today’s harrowing conditions, expectations should remain limited. Stimulus measures should be temporary or business-cycle-contingent. Government purchases do not necessarily provide a larger (correctly measured) stimulative effect than tax cuts. On a more specific note, allowing greater use of net operating loss carryforwards during recessions than during expansions can provide a modest fiscal stimulus while also reducing tax penalties on risky