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The economic stimulus plan is one President Obama's main weapons to jump-start the economy and prevent a much deeper and longer recession; the current downturn started in December 2007 making it already one of the longest since the Great Depression, and it has caused the largest number of job losses in the history of the US in a single year (in absolute, but not - yet - relative numbers). Through a combination of tax cuts, direct investments in a variety of sectors including infrastructure, energy, science and education and help to the unemployed and to the states, Congress and the President are looking to alleviate if not stop the decline in economic activity. As of August 2009, the economy has lost 6.9 million jobs, which have been shed across all sectors of the economy except for government and healthcare.

The Fair Labor Standards Act (FLSA) , which prescribes standards for the basic minimum wage and overtime pay, affects most private and public employment. It requires employers to pay covered employees who are not otherwise exempt at least the federal minimum wage and overtime pay of one-and-one-half-times the regular rate of pay. For nonagricultural operations, it restricts the hours that children under age 16 can work and forbids the employment of children under age 18 in certain jobs deemed too dangerous. For agricultural operations, it prohibits the employment of children under age 16 during school hours and in certain jobs deemed too dangerous. The Act is administered by the Employment Standards Administration's Wage and Hour Division within the U.S. Department of Labor.

The $787 billion economic stimulus package was approved by Congress in February, 2009. The plan was to jumpstart economic growth, and save between 900,000-2.3 million jobs.