Recovery Act Affects 250,000 Education Jobs
October 19, 2009 by St. Lucie Times Staff · Leave a Comment
A new report released by the Domestic Policy Council reports that the American Recovery and Reinvestment Act (aka “Bailout”) has had a major impact on education, saving or creating 250,000 education jobs via $67 Billion in grants since being signed into law in February.
The report states: “Immediately after President Obama signed ARRA into law on February 17th, the Department acted swiftly to move the first phase of these funds to states in response to drastic budget shortfalls. Over $67 billion in formula grants have been disbursed as of September 30th. As part of the unprecedented transparency requirements of ARRA, the first quarterly public accounting of all expenditures to date will be posted by the Recovery, Accountability, and Transparency Board on October 30th. Initial reporting from states find that the October 30 release will show at least 250,000 education jobs created or saved across the nation that are supporting our students and fueling our economy.”
You can read the full report here:
http://www.whitehouse.gov/assets/documents/DPC_Education_Report.pdf
