President Obama worked to stabilize the U.S. economy in the wake of the recession by approving funds to automobile companies to prevent layoffs and wage cuts. This was part of a broader strategy that included the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act, which aimed to provide financial support to various sectors of the economy.
How did President Obama work to stabilize the U.S. economy in the wake of the recession?
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• He hired thousands of unemployed people to work in the government.
• He listened to economists who said he should let large companies fail.
• He signed legislation to prevent the federal bailout of investment firms.
• He approved funds to automobile companies to prevent layoffs and wage cuts.
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