American Recovery and Reinvestment Act — $787B Stimulus Signed

President Obama signed the ARRA on February 17, 2009 — the largest stimulus in US history to that point. The $787B package included $288B in tax cuts, $144B for state/local relief, and $357B in infrastructure, education, and healthcare spending. CBO later found it created or saved 3.3 million jobs at its peak in 2010. Unemployment still peaked at 10% in October 2009 but economists generally credited the ARRA with shortening the recession.