The American Recovery and Reinvestment Plan is the name of President Barack Obama's plan to stimulate the economy which was passed by the Congress on February 13, 2009 after several revisions. Obama signed the $787 stimulus package into law on February 17, 2009 as the American Recovery and Reinvestment Act (ARRA). It aims to create employment opportunities in the short-term and economic growth in the long-term.

The most immediate goals of this plan are to save and create jobs, improve economic activity, invest in future growth, and maintain a level of transparency and accountability that is unprecedented for government spending. The plan includes the expansion of unemployment benefits, federal tax cuts, and more monetary investments in areas of education, health care, and infrastructure.http://www.recovery.gov/About/Pages/The_Act.aspx

The President repeatedly urged Congress to take action on the plan and warned that failing to do so would cause devastating long-term consequences. There were still some delays, but the plan finally passed through Congress and was signed.http://www.cnn.com/2009/POLITICS/01/08/transition.wrap/index.html The plan also encourages transparency for financial institutes. The new regulations are set up to hold accountable any market players that are using fraudulent practices. Getting funds flowing again in the economy is one of the ways that this plan is expected to pull the country out of the recession.http://www.whitehouse.gov/issues/economy