@inbook{10.7758/9781610447508.13, ISBN = {9780871544216}, URL = {http://www.jstor.org/stable/10.7758/9781610447508.13}, abstract = {The recession that began in December 2007 ranks as the longest and deepest economic downturn since World War II. The American government’s response to it was also distinctive and aroused intense political controversy. In some ways this should not be surprising, since some of the measures adopted by the Congress, two presidents, and the Federal Reserve helped keep solvent some of the financial institutions whose behavior helped cause the recession. However, most of the money actually spent by the federal government was devoted to policies that would have been familiar to presidents and legislators in earlier recessions, regardless of the}, author = {Gary Burtless and Tracy Gordon}, bookauthor = {David B. Grusky and Bruce Western and Christopher Wimer}, booktitle = {Great Recession, The}, pages = {249--293}, publisher = {Russell Sage Foundation}, title = {The Federal Stimulus Programs and Their Effects}, year = {2011} }