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Educational Impact of the American Recovery and Reinvestment Act

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Description: Educational Impact of the American Recovery and Reinvestment Act MONDAY, OCTOBER 19TH, 2009 AT 10:06 AM Recovery in Focus: Saving and Hiring 250,000 Teachers Posted by Jesse Lee The Recovery Act, which the President signed in February, is having positive impacts on almost every conceivable sector of our economy, both in the short term and in terms of creating a new foundation for the future. But one of the areas that might be felt even more directly by families than most – again, in both the short and the long terms -- is in education. A new report out today from the Domestic Policy Council documents just how broad the impact has been. Read the Report: "Educational Impactof the American Recovery and Reinvestment Act" (pdf) From the introduction: 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. The report meticulously looks at the impact the Recovery Act had on state budgets, which had legislators facing awful choices on how to close massive shortfalls. And as it goes on to explain, the benefits of the Recovery Act ended up going to virtually every student in the schools that were affected, since teacher layoffs effect virtually every student: Saving and generating jobs for teachers has had clear effects in the classroom. As local school districts are faced with budget shortfalls in a slowing economy, the number of teachers employed may d