How ARRA Affects the Homeless
Other leading economic indicators like Wall Street, GDP, unemployment rate, and CPI notwithstanding, The American Recovery and Reinvestment Act (ARRA) "does appear to have unambiguously succeeded [because] it kept the number of homeless people from soaring," reports Shawn Zeller.
With $1.5 billion direct funding from the stimulus bill, "the states were able to find housing for 531,000 people at risk of becoming homeless, while 159,000 were moved from the streets into homes."
"[H]ad it not been for President Obama's Recovery Act, many hundreds of thousands of persons may have fallen into homelessness," says HUD Secretary Shaun Donovan in the article.
The rest of $787 billion ARRA money went to rescue too-big-to-fail institutions in order to prevent a systematic collapse of the U.S. financial system.