economics

To help end the Great Recession started in 2008, legislators passed the American Recovery and Reinvestment Act in 2009. The Act made the following broad tax cuts/spending provisions:

$288 billion in tax credit/relief
$155.1 billion in healthcare spending
$100 billion in education spending (mostly sent to the states)
$82.2 billion in aid to low income workers and the unemployed
$105.3 billion in infrastructure projects (transportation, sewage and water, government buildings, communications and energy)
$22.2 billion in renewable energy research
$14.7 billion in housing
$7.6 in scientific research
It was criticized by economists from all theoretical persuasions. The “Stimulus Package” was arguably a Keynesian measure so why would a Keynesian economist be critical of it? Why would neoclassical economists be critical? In your post be sure to address the key features of the Keynesian approach and those of a neoclassical approach including the stickiness/flexibility of wages and how expectations are formed.

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