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Economic Policy Crisis and the Stimulus

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Analysis

"Economic Stimulus: Issues and Policies," CRS Report for Congress R40104, March 6, 2009 . . . . . . . . . . . . . . . 1

- The Current State of the Economy
- The 2009 Stimulus Package
- Preliminary Discussions
- House Proposal
- Senate Proposal
- The American Recovery and Reinvestment Act of 2009
- Discussion
- Issues Surrounding Fiscal Stimulus
- The Magnitude of a Stimulus
- Bang for the Buck
- Timeliness
- Long-term Effects
- Should Stimulus be Targeted?
- Is Additional Fiscal Stimulus Needed?
- Policies Previously Adopted
- Interventions for Financial Firms and Markets
- Table 1. Zandi's Estimates of the Multiplier Effect for Various Policy Proposals
- Table 2. Timing of Past Recessions and Stimulus Legislation

"Financial Market Intervention," CRS Report for Congress RS22963, January 29, 2009 . . . . . . . 25

- Current Concerns
- What, if anything, is wrong with the financial system?
- When did trouble in the financial markets start?
- What caused financial market turmoil?
- If 97% of mortgage borrowers are not in foreclosure, why is the financial turmoil so large?
- Where are the problem loans located?
- Who is affected by the financial turmoil?
- How have policymakers responded to financial turmoil?
- Why have the Federal Reserve's traditional tools not restored order in financial markets?
- What is contained in EESA, P.L. 110-343?
- What has Treasury done under the EESA?
- What legislation is being considered in the 111th Congress?
- What is a Bad Bank?

"'Fast Track' Procedures to Disapprove Additional Funds Under the Emergency Economic Stabilization Act," CRS Report for Congress R40134, January 15, 2009 . . . . 35

- Graduated Authorization to Purchase
- Expedited Parliamentary Procedures
- Reconvening Congress
- Text of the Joint Resolution
- Introduction
- Referral to Committee
- Committee Action in the House
- Calling Up the Joint Resolution on the Floor
- Floor Debate
- Motions, Amendments, Voting
- Automatic Legislative "Hookup"
- Additional Expedited Provisions
- Implications of Resolutions of Disapproval
- Either Chamber May Alter the Expedited Procedure
- Estimated Deadlines Under EESA Disapproval Process
- Table 1. Estimated Deadlines Under the EESA Disapproval Procedure

"Economic Slowdown: Issues and Policies," CRS Report for Congress RL34349, January 2, 2009 . . . . . 45

- The Current State of the Economy
- Is Additional Fiscal Stimulus Needed?
- Stimulus Proposals Enacted and Considered in 2008
- Tax Rebates
- Preliminary Evidence on the Rebates' Economic Effects
- Business Tax Incentives
- Housing Provisions
- Extending Unemployment Benefits
- Senate Committee Proposal
- A Proposed 2009 Stimulus Package
- Proposals Discussed in 2008
- The 2009 Proposals
- Comparing the Macroeconomic Effects of Various Proposals
- Bang for the Buck
- Timeliness
- Long-term Effects
- Should Stimulus be Targeted?
- Interventions for Financial Firms and Markets
- Case-by-Case Interventions
- Too Big to Fail
- Too Complex to Fail
- Broad Based Intervention
- Remove Illiquid Assets
- Broad Based Injection of Capital
- Figure 1. Consumption, Disposable Income, and Rebate Checks, January 2007 to September 2008
- Table 1. Estimated Budget Cost of Original House Bill (H.R. 5140)
- Table 2. Estimated Budget Cost for the Economic Stimulus Act of 2008 as Reported by the Senate Committee on Finance
- Table 3. Estimated Budgetary Cost of the Final Bill, H.R. 5140
- Table 4. Comparative Provisions of the Rebate
- Table 5. Receipt of Rebates by Month
- Table 6. Business Tax Provisions of the House, Senate Committee and Final Plans
- Table 7. Zandi's Estimates of the Multiplier Effect for Various Policy Proposals
- Table 8. Timing of Past Recessions and Stimulus Legislation

"The American Recovery And Reinvestment Act Of 2009: Full Summary of Provisions by the Senate Finance Committee and House, Ways & Means Committee," by the Senate Finance Committee and the House Ways & Means Committee, February 12, 2009 . . . . . 85

- Tax Relief for Individuals and Families
- Tax Incentives for Businesses
- Manufacturing Recovery Provisions
- Economic Recovery Tools
- Infrastructure Refinancing Tools
- Reinvestment in Renewable Energy
- Other Provisions
- Assistance for Families & Unemployed Workers
- Health Insurance Assistance
- State Fiscal Relief and Medicaid
- Health Information Technology
- Trade Provisions
- Debt Limit

"Obey Statement: American Recovery and Reinvestment Act," by Dave Obey, Chairman of the House Appropriations Committee, February 13, 2009 . . . . . . . 105
 

From the Congressional Deskbook

Legislative Process flowchart, § 8.01  . . . . . 109
Federal Budget Process flowchart, § 9.53 . . . . . 110
Typical Executive Budget Process Timetable, § 9.41 . . . . . 112
Volumes Containing and Explaining the President's Annual Budget, § 9.43 . . . . . 113

Other Resources . . . . . . 114
 

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