In February 2009, President Obama signed the American Recovery and Reinvestment Act of 2009. In early 2009, the Congressional Budget Office estimated that the Recovery Act’s combined spending and tax provisions would cost $787 billion. In early 2010, CBO updated its estimate of the cost of the Recovery Act. It now estimates that the Recovery Act will cost $75 billion more than originally estimated – CBO now anticipates that the 2009 Stimulus will increase deficits by $862 billion over ten years.
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