Obama signs $787 billion American Recovery and Reinvestment Act largest peacetime stimulus

President Obama joins world leaders in adopting the Paris Agreement at the UN Climate Change Conference (COP21), committing to limit global temperature rise to well below 2°C above pre-industrial levels and to pursue efforts to limit warming to 1.5°C. Each nation submits its own nationally determined contribution (NDC). The U.S. pledges to reduce emissions 26-28% below 2005 levels by 2025. The agreement enters into force on November 4, 2016, four days after Obama secures ratification. President-elect Trump later withdraws the U.S. in 2017.