Recovery Act
Posted on 28. Jan, 2010 by dimaks in Asides
What is the Recovery Act? Recovery Act is a United States / American Recovery and Reinvestment Act of 2009, passed by the US Congress urged President Barack Obama. This act is said as the America’s direct response to the economic crisis with the 3 immediate goals:
- Create new jobs as well as save existing ones
- Spur economic activity and invest in long-term economic growth
- Foster unprecedented levels of accountability and transparency in government spending
In addition to offering financial aid directly to local school districts, expanding the Child Tax Credit, and underwriting a process to computerize health records to reduce medical errors and save on health care costs, the Recovery Act is targeted at infrastructure development and enhancement. For instance, the Act plans investment in the domestic renewable energy industry and the weatherizing of 75 percent of federal buildings as well as more than one million private homes around the country.
Construction and repair of roads and bridges as well as scientific research and the expansion of broadband and wireless service are also included among the many projects that the Recovery Act will fund.
While many of Recovery Act projects are focused more immediately on jumpstarting the economy, others, especially those involving infrastructure improvements, are expected to contribute to economic growth for many years. (www.recovery.gov)
Just recently, an evaluation was conducted for the American States and it is found, as per report that Kentucky rose to 2nd place from 47th, while Illinois rose to 7th place from 50th, Minnesota leaped to 4th place from 34th, and Utah to the 24th place from 50th. This ranking is in comparison to a previous evaluation in July 2009. The evaluation was done by a research group which reviewed state Web sites that reported American Recovery and Reinvestment Act spending and graded them from 1 to 100. It is found that there was around $200 billion distributed to the states from the economic stimulus law.
The states with the highest scores in the new report are Maryland (87), Kentucky (85), Connecticut (80), Colorado (72) and Minnesota (72).
Eleven states scored below 20, including North Dakota (5), District of Columbia (6), Missouri (10), Alaska (13), Vermont (13), Louisiana (16), Mississippi (17), Idaho (18), Oklahoma (18), Texas (18) and South Carolina (19).(surroundedme.com)
One of the measures used by the US in this Recovery Act is the number of jobs created per state, and with that, here is the Top States By Jobs Created/Saved as Reported by Recipients:
Download The Recovery Act Text!
(Disclaimer: The file here is just a source I found in the Official Recovery Act website, hence I claim to responsibility or whatsoever on anything. For the original source, go to: http://www.recovery.gov/About/Pages/The_Act.aspx)
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Dimaks is a part-time blogger born in Cotabato City, Southern Philippines. He loves a wide array of things: Martial arts, Scootering, Painting, Photography, Cooking and of course eating. Indulge with his blogging rounds!
