Question

Which statement best describes why Texas was able to rebound quickly from the last economic floundering?

A. The Republican Party cut public education spending just in time.
B. State leaders decided to dip into the Economic Stabilization Fund.
C. State leaders had the foresight to raise taxes to protect public school and higher education funding.
D. President Barack Obama's economic stimulus plan helped the state rebound quickly.

Answer 1

Texas rebounded quickly from its economic downturn primarily due to the federal stimulus package enacted by Congress and the Obama administration, which involved a mix of tax cuts and government spending. the correct option is D. President Barack Obama's economic stimulus plan helped the state rebound quickly.

Step-by-step explanation:

D. President Barack Obama's economic stimulus plan helped the state rebound quickly. Texas was able to rebound quickly from its last economic downturn due to the federal stimulus package known as The American Recovery and Reinvestment Act, which was enacted by Congress and the Obama administration in February 2009.

Although initially there was some tension around the preference for tax cuts (favored by conservatives) versus spending increases (favored by liberals), the severe economic conditions necessitated a combination of both. This stimulus plan had an immediate and powerful impact on states' economies, including Texas, which despite state-level spending cuts, benefited from the direct infusion of federal funds that mitigated some of the losses and propelled the state towards a faster economic recovery.