A new Congressional Budget Office analysis, which we’ve briefly summarized here, finds that the Recovery Act is continuing to save jobs and protect the economy from what would have been a much worse recession. As of March, the Recovery Act had:
BEYOND THE NUMBERS
Donna Pavetti, director of the Center's welfare reform and income support division, discussed the Temporary Assistance for Needy Families (TANF) Emergency Fund and the U.S. Welfare System on C-SPAN's Washington Journal this morning.
Watch the interview here or on C-SPAN's website:
Misplaced budgetary concerns are impeding major legislation that would create and preserve jobs, continue unemployment and health benefits for those who are out of work, and fix Medicare’s flawed payment formula for physicians for several years.
Given the wildly inaccurate description of the TANF Emergency Fund on the “YouCut” website, the vote to eliminate the program is meaningless. Far from a “backdoor way to undo” welfare reform, the fund has enabled states to expand work-focused programs within TANF despite high unemployment and a weak economy.
In an earlier post, I explained that the TANF Emergency Fund is helping to place some 180,000 low-income parents and youth who would otherwise be unemployed into paid jobs in the private and public sectors. The table below lists the estimated number of jobs in most of the 35 states that are operating jobs programs (or are planning to) using the fund.
As we said in this morning’s statement, there’s lots of good news in the April jobs report, but we’re going to need many more months like April to pull unemployment down toward pre-recession levels. The charts below help flesh out the story.
Analyzing the new GDP figures issued Friday, which showed state and local spending falling at the fastest rate in three decades, Matt Yglesias made the important point that the large cuts in state and local spending are a drag on the economy. The new figures are just the latest evidence that Congress should extend the Recovery Act’s fiscal relief to states.
A little-known component of last year’s Recovery Act is helping to place some 180,000 unemployed individuals in subsidized jobs across the country. But the program — and almost all of those jobs — will disappear soon unless Congress acts.
The deep cuts in public services and millionaire-friendly tax policies that New Jersey Governor Chris Christie has proposed have made him a poster child for good governance for conservatives like Fred Barnes and George Will. But his proposals also highlight — if unintentionally — the need for a better, balanced approach to meeting public needs despite a recession-fueled plunge in state revenues.
The New York Times reports that hundreds of thousands of teachers across the country could face layoffs in June, as state revenues remain weak and federal Recovery Act assistance will soon dry up. (The Washington Post has a similar story.)