Question

What did president obama do to combat the great recession?

A. Implemented tax cuts for the wealthiest individuals to stimulate economic growth.

B. Launched the Troubled Asset Relief Program (TARP) to bail out struggling banks.

C. Advocated for austerity measures to reduce government spending and address the economic downturn.

D. Enacted the American Recovery and Reinvestment Act (ARRA) to stimulate the economy through infrastructure spending and other measures.

Answer 1

President Obama implemented the American Recovery and Reinvestment Act (ARRA) to stimulate economic growth during the Great Recession, which included infrastructure spending and tax rebates.

Step-by-step explanation:

In response to the Great Recession, President Obama took multiple actions to combat the economic downturn. The correct answer to what President Obama did to combat the Great Recession is D. Enacted the American Recovery and Reinvestment Act (ARRA) to stimulate the economy through infrastructure spending and other measures. The ARRA, enacted in early 2009, injected almost $800 billion into the economy.

This act not only aimed at economic growth and job creation but also provided tax rebates to low- and middle-income households to boost consumer spending. In addition, although the Troubled Asset Relief Program (TARP) was launched under President George W. Bush, President Obama managed its implementation, which included providing funds to support banking institutions and major auto manufacturers like General Motors and Chrysler.