Just a Spoonful “Economic Medicine”

By Courtney Ann Jackson-Talk Radio News Service

The Recovery Act is doing just as its name promised, according a press conference Wednesday from the office of Vice President Joe Biden. Biden released his first of a series of quarterly reports to President Barack Obama Wednesday morning.

In an on background conference call, a senior administration official from the Vice President’s Office said the American Recovery and Reinvestment Act has shown “early progress providing immediate financial relief for American families.”

The recession has been broad-based, causing unemployment to rise across the country. However, the Recovery Act has been responsible for creation of 150,000 new jobs so far, across all 50 states, including those in areas where it is most needed. “There are programs targeted to specific high unemployment
areas,” the official said.

The report discussions on state fiscal stabilization funds highlights Wisconsin’s application. It is is a good example of how states are “ramping up,” according to the official.

“The report find the anticipated funds are already having an effect on economic and job growth as private sector companies step up to meet expected demand for their projects under the act and state governments adjust their spending plans and they expect to received additional funds,” the
official said.