Obama has said in the past that he wanted to work towards a 95% tax break for all working families. That amount was not quite met, as Congress cut the amount of money entitled to working individuals and families by 20%, from what Obama had originally proposed. Still, the Recovery Act did not help everyone “recover,” which frustrates many people still looking for work. Obama himself admitted that the Recovery Act has not been perfect, yet did emphasize that no other act of legislation has worked as quickly and effectively as this one has. He also expressed his concern for state budgets which have not yet recovered: while state workers were able to keep their jobs for longer than anticipated because of the Act, this does not mean that they could see layoffs in the future when recovery money runs out. Many small businesses have benefitted from the Recovery Act, though, which is also a plus.
It didn’t do what he wanted it to do because it wasn’t as expansive as he hoped it would be — because the stimulus was limited, its effects were as well. We still have issues with unemployment, the housing market, and economic confidence — hopefully, further spending is on the way.
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