The 2009 Economic Stimulus

Next: The America Reinvestment and Recovery Act (ARRA) Guidebook

Our nation is currently facing the greatest economic crisis since the Great Depression of the 1920s and 1930s. The failing economy has eliminated more jobs as a proportion of the work force than any downturn since 1958, according to economists.

According to the U.S. Labor Department employers cut 663,000 jobs in March, bringing the total net losses in the current recession – which began in December 2007 -- to 5.1 million. Also, in March the unemployment rate rose to 8.5 percent, the department said, the highest in more than 25 years.

More jobs are being shed at a far quicker pace than during the last two recessions, and real gross domestic product (GDP), industrial production and manufacturing, and retail sales have all fallen sharply over the past several months.

Virtually every sector of our economy is now facing a serious contraction due to decreasing consumer confidence, the increasing fears of job losses and the corresponding fall in consumer demand.

To help jumpstart our economy, Congress passed and President Obama signed into law, H.R. 1, the American Recovery and Reinvestment Act of 2009.  The enactment into law of this legislation was a necessary and vital step to stabilize our nation’s economy, put people back to work, increase consumer confidence and demand and lay the foundation for our nation’s future economic growth.         

While the final bill was not perfect, I strongly believe we needed to take quick action to help Americans who are struggling and to help spur job creation. We are in a time of crisis, and doing nothing is not an option. The Council of Economic Advisors has estimated that the bill will create or save more than three million jobs over the next two years, including 69,000 in the state of Missouri and 7,000 in the First Congressional District.

Since the size and magnitude of the American Recovery and Reinvestment Act is so large, my office has created this guidebook to provide information about the programs that will be funded through the legislation – to serve as a starting point in providing information about what resources will be available to individuals, businesses, community organizations and local governments.

President Obama, members of Congress, state governors, and local officials have all committed to ensuring that the Recovery is implemented in a transparent manner and that organizations are held accountable for the efficient and effective use of the resources provided through the legislation.  I encourage you to visit http://www.recovery.gov and Gov. Jay Nixon’s recovery website at http://transform.mo.gov/faqs/.

Also, here are several additional websites that you may find useful:

• Clearinghouse of government  information:  http://www.usa.gov
• How to apply for federal contracts:  https://www.fbo.gov/
• How to find federal jobs:  http://www.usajobs.opm.gov/
• How to apply for federal grants:  http://www.grants.gov/
• How to access various federal benefits:  http://www.govbenefits.gov

As always, I stand ready to assist you and hope the information provided in this guidebook proves useful to you.  If you have any questions, comments or concerns regarding this guidebook or the resources provided through the Recovery Act, please do not hesitate to contact one of my offices.

Very truly yours,

WM. LACY CLAY

Member of Congress