Bailout

American Recovery and Reinvestment Plan

By USLaw.com

President Obama shared even more details of the American Recovery and Reinvestment Plan he is urging Congress to pass into law. The Plan aims to fill the employment gap created by the anticipated loss in demand for $1 Trillion dollars of the economy’s productive potential. Specifically, the Plan aims to:

• Create or save 3 to 4 million jobs over the next two years, 90% of which in the private sector.
• Spend at least 75% of the proposed $824 Billion spending package in the next 18 months after passage through “fast-spending provisions” like tax cuts for middle class families, measures to avoid state
  health care cuts, and temporary expansions of unemployment insurance, food stamps and
  health care for unemployed workers.
• Double the current renewable energy generating capacity, which took thirty years to develop, over the next three years (enough to power 6 million American homes).
  Modernize 75% of federal buildings and two million homes through weatherization program.
• Computerize every American?s health record in five years.
• Upgrade 10,000 schools and learning environments for approximately 5 million children through school modernization program.
• Improve and build roads, bridges and mass transit systems.

The President cites independent analysis published by Economy.com to validate the ability of his plan to meet these goals and pledges to maintain a report card at recovery.gov. He also published the following Recovery Plan Metrics Report:

Full post as published by Bailout Report on January 25, 2009 (boomark / email).