What Government Did Today

Washington, DC – As mandated by statute, the Recovery Accountability and Transparency Board today posted on Recovery.gov quarterly reports required from some recipients of Recovery Act funding.  The recipient reports provide more detailed information about a portion of Recovery Act activity during the fourth quarter of 2009.  The Vice President issued the following statement: “The recipients reporting on this $54 billion portion of the Recovery Act – which represents less than one-fifth of Recovery spending and tax relief last year – tell us they funded about 600,000 workers last quarter with Recovery dollars.  These reports, which provide a snapshot of the impact of a small portion of funds, are yet another indication that the Recovery Act is on-track to create or save 3.5 million jobs by the end of 2010.” “Because of this unprecedented transparency effort, the American people are getting a look at some of the ways Recovery dollars are benefiting their neighborhoods and communities directly from the recipients themselves.   Since this is a partial survey based on reports filed by recipients, we know it’s not perfect or complete – but it is providing a level of detail about a government program that has never before been made available to the public.” To learn more about the reports posted today on Recovery.gov, click HERE . ###  

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Statement by the Vice President on New Recovery Act Recipient Reports Posted on Recovery.gov

WASHINGTON – In his weekly address, President Barack Obama promised to rein the deficit, citing three specific steps to this end.  He praised the Senate for restoring the pay-as-you-go law, which in the 1990’s contributed to the $236 billion surplus at the end of the decade.  It is no coincidence that after ending PAYGO, that surplus became a $1.3 trillion deficit.  He has also proposed a freeze in discretionary spending, which will increase investments in jobs creation and middle class tax cuts while cutting spending for redundant or ineffective programs.  And finally, the President called for a bi-partisan Fiscal Commission to hammer out concrete deficit reduction proposals. The audio and video will be available online at www.whitehouse.gov at 6:00 am ET, Saturday, January 30, 2010

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Weekly Address: President Obama Pledges to Rein in Budget Deficits

The President pledges to rein the deficit, citing three specific steps to this end. He praises the Senate for restoring the pay-as-you-go law, discusses his proposal for a freeze in discretionary spending, and calls for a bipartisan Fiscal Commission to hammer out further concrete deficit reduction proposals.

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Weekly Address: Reining in Budget Deficits