Fed Chair: Higher Unemployment Without Economic Reinvestment Act
During today's House Financial Services Committee Hearing on Monetary Policy, Federal Reserve Chairman Benjamin Bernanke confirmed that the Recovery Act is working to prevent higher unemployment.
Some of the positive effects of the American Recovery and Reinvestment Act are starting to take hold across the nation, and the economy would be worse off without the Recovery Act.
From the Hearing Transcript
Bernanke: “Our forecasts are based on our best projections of what government spending is likely to be and in particular it includes the fiscal stimulus package…
“…If the fiscal stimulus package didn't exist for example, we would anticipate that there would be higher unemployment.”
WAGT-TV (Georgia) - Billions of dollars in stimulus money creating thousands of jobs in Georgia-Carolina
The [Savannah River Site] SRS Recovery Act Project is creating nearly 3,000 thousand jobs and it's made possible by $1.6 billion in federal stimulus dollars.
'The stimulus money is allowing to put two to three thousand people to work, so that's good for us and it's good for the region,' said President of Savannah River Nuclear Solutions Chuck Munns.
This new project will help speed up nuclear waste removal from the site. [Read More]
KFSM-FM (Arkansas) - Teens are Among the first to Benefit From ARRA
The American Recovery and Reinvestment Act was passed for a number of reason, one of which is to create and keep jobs. In Northwest Arkansas some of the first to benefit have been teenagers.
'Everybody needs a job and it's really hard to find one right now and everybody is looking for one and I think I'm pretty lucky to have one,' said 16-year-old Gabriela Medina. She is one of 450 teenagers in the region to find a job this summer due to ARRA. [Read More]
The Indianapolis Star (Indiana) - Indiana preps for stimulus projects
Indiana has received $164 million in federal stimulus money to build affordable housing…
During the past year, the tax credits have not been enough to spur development, so the stimulus package allows states to trade their 2008 and 2009 credits for cash.
The U.S. Treasury Department announced last month that Indiana would receive the money, which U.S. Rep. Andre Carson, D-Indianapolis, said should help Indianapolis battle its rising homeless population and help unemployed Hoosiers.
'A way to address both of these critical issues is to jump-start many of the stalled, affordable housing construction and revitalization projects, -- all of which are ready to go from a development standpoint but just lack the capital to get off the ground,' Carson said. [Read More]
Erie Times-News (Pennsylvania) - Energy Star appliance rebates coming
… Pennsylvania will get $12 million in federal stimulus funds for a state-run rebate program for consumers who buy Energy Star-qualified home appliances.
Nationwide, nearly $300 million will be available under the American Recovery and Reinvestment Act, said U.S. Rep. Kathy Dahlkemper, of Erie, D-3rd Dist.
'This Recovery Act funding will not only significantly reduce our nation's overall energy usage, but will put money back into the pockets of hardworking families,'' Dahlkemper said in a statement.
'The very purchases of efficient everyday appliances like refrigerators and air conditioners will directly stimulate our economy and create good-paying jobs,'' she said. [Read More]
The Daily Gazette (New York) - Editorial: Stimulus needs more time to do its work
Even mild recessions don't end as quickly as people want them to, and this one has been anything but mild. Indeed, unemployment continues to rise… But the pace of the monthly job losses has definitely been slowing. At the same time, home prices have started to firm, the inflation of a year ago has eased dramatically, and consumer confidence is on the rise.
The even better news seems to be that most of the $787 billion stimulus package is still stuck in the pipeline -- yet to be spent…Obviously, as more of that money finds it way into the economy in the coming months, the impact will be increasingly positive. [Read More]
Fresno Bee (California) - Stimulus funds spread far, wide in Valley
For example, the Fresno County Workforce Investment Board got $18 million in stimulus money, said Pam Lassetter, assistant director. The board is using most of it to help put 3,000 students in summer jobs…
One of the biggest transportation projects in the Valley -- the extension of Highway 180 from Temperance Avenue to Academy Avenue -- will start in the fall with help from nearly $18.5 million in stimulus money.
That project, which will provide dozens of construction jobs, originally was earmarked for 2011-12, but the state budget crisis would likely have delayed it, said Tony Boren, executive director of the Council of Fresno County Governments. [Read More]
The Kingsport Times-News (Tennessee) - Boucher hosts conference on transition to electronic medical records
More than 150 people attended the Ninth District Health Care Conference hosted by U.S. Rep. Rick Boucher, D-Va., at the Southwest Virginia Higher Education Center to learn more about the records and the stimulus funding related to them.
The goal of conference was to give the region's medical community information on how to obtain some of the $20 billion included in the American Recovery and Reinvestment Act for assisting in the transition to EMRs, Boucher said.
“The use of electronic medical records enables providers to render care more efficiently in many ways,” he said. “For example, eliminating the use of paper-based records can reduce the duplication of diagnostic tests. [Read More]
The Denver Post (Colorado) - Colo. gets $19.6 million stimulus
The funding, announced Monday by the U.S. Department of Energy, is part of a total of $49 million for energy projects Colorado is eligible for under the American Recovery and Reinvestment Act.
'What we are trying to do is not just one-time projects,' said Todd Hartman, spokesman for the Governor's Energy Office. 'We want to use the funds to build up infrastructure for energy efficiency and renewables.'
The programs include financial incentives to builders to promote energy efficiency in new-home construction and to homeowners for energy efficiency in existing homes. [Read More]
Philadelphia Business Journal - Pa., Del. energy programs get stimulus
The U.S. Department of Energy awarded Pennsylvania $39,873,600 and awarded Delaware $9,692,400 in Recovery Act funds...
Pennsylvania will use the funds for Pennsylvania Green Energy Works, to offer grants to businesses, nonprofits, universities, local governments and utilities for shovel-ready energy projects.
Delaware's funds will be used to establish a Home Performance Program, to help defray the costs of home energy audits and installation of energy efficient equipment for families above the low-income eligibility threshold for the Weatherization Assistance Program. [Read More]
- Choteau Acantha (Montana) - School receives $78,000 in fed stimulus funding
- Honolulu Advertiser (Hawaii) - HECO to get $750,000 in wind power stimulus funds
- KAKE-TV - Commerce Department Launches Connect Kansas Broadband Initiative
- Boston Globe (Massachusetts) - Mass. gets federal dollars for renewable energy
- The Daily Times Leader (Mississippi) - MDOT project brings stimulus funds to Clay County
- The Dispatch (North Carolina) - Thomasville receives grant for drinking water
- San Jose Mercury News (California) - Federal Recovery Act could quicken road paving, development of trails in San Jose