6:05 PM
Julio Barreto
The Brookings Institution gave President Obama an A- for his handling of the current economic situation in a posting released January 11. The grade was part of a status report issued by Brookings a year after issuing a series of 12 memos to the incoming president on the most important issues it felt the nation faced during his tenure in office.
Brookings gives the president credit for appointing Timothy Geithner as Secretary of the Treasury and for keeping Ben Bernanke as Chair of the Federal Reserve. Overall, Brookings gives the president an A for his handling of the current economic crisis. However, it feels the president still has to improve on his perceived ability to address long-term economic challenges. He gets a B- for his handling of long-term issues for his overall rating of A-.
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Group Releases Report on Stimulus Funds and Public Housing
The National Association of Housing and Redevelopment Officials (NAHRO) released the result of a survey it conducted last summer on the use of stimulus dollars by its members. Respondents to the survey stated they had obligated 53 percent of their funds and expended 18.5 percent. On average, respondents expected to spend all of their funds by June.
The survey results included:
NAHRO recently reported to its membership that Assistant Secretary for Public and Indian Housing Sandra Henriquez has expressed her happiness with the success of housing authorities to expend these funds. Her only concern is the rate of expenditure to date but she expressed confidence it will improve.
Preliminary Findings Suggest Financial Conditions Will Continue to Decline for States
The National Governors Association (NGA) and the National Association of State Budget Officers (NASBO) forecasted continued fiscal difficulties for states in releasing preliminary results of its biannual report The Fiscal Survey of States.
The economic downturn has dramatically impacted states over the last two years have caused state officials to believe the impact on states will not be over soon. According to the findings in The State Fiscal Situation: The Lost Decade states were forced to reduce General Fund expenditures by 4.8 percent and are expected to reduce these funds by four percent in 2010.
Tax revenues are expected to continue a downward spiral in 2010 which will also be felt in fiscal years 2022 and 2012. Overall, state revenues declined 7.5 percent in fiscal 2009, which for most states ended June 30, 2009. Revenues will likely continue on this downward trend for another one to two quarters before turning up slowly.
The weakening of state fiscal conditions is reflected in the $250 billion in budget gaps faced by states between fiscal 2009 and fiscal 2011. Of the $250 billion, states closed $72.7 billion in budget gaps during fiscal 2009 and $113.1 billion before the enactment of their fiscal 2010 budgets to bring them into balance with drastically declining revenues.
Founded in 1908, NGA is the collective voice of the nation’s governors and one of Washington, D.C.’s most respected public policy organizations. Its members are the governors of the 50 states, three territories and two commonwealths. Founded in 1945, NASBO is the instrument through which the states collectively advance stage budget practices. The major functions of the organization consist of research, policy development, education, training, and technical assistance.
States Taking the Initiative to Combat Dropout Problem
Six states – Colorado, Massachusetts, Minnesota, New Hampshire, Tennessee and West Virginia – have decided to develop comprehensive state dropout prevention and recovery policies through the State Strategies to Achieve Graduation for All initiative.
The initiative will help states clearly identify their dropout problem; assess the gaps in student supports for preventing students from dropping out of school and recovering the students that drop out; and create a dropout prevention and recovery action plan for implementation that includes tactics such as state policies, executive orders, advisory councils, legislation or regulatory reforms.
The initiative is informed by a report recently released by the NGA Center, Achieving Graduation for All: A Governor’s Guide to Dropout Prevention and Recovery, which identifies the root causes of the high school dropout problem and offers an action plan for states to curb dropouts, help youth succeed and strengthen state economies. Specific recommendations contained in the report for states to reduce the incidence of students not completing high school include promoting high school graduation for all; targeting youth at-risk of dropping out; reengaging youth who have dropped out
Brookings gives the president credit for appointing Timothy Geithner as Secretary of the Treasury and for keeping Ben Bernanke as Chair of the Federal Reserve. Overall, Brookings gives the president an A for his handling of the current economic crisis. However, it feels the president still has to improve on his perceived ability to address long-term economic challenges. He gets a B- for his handling of long-term issues for his overall rating of A-.
For more information, click here.
Group Releases Report on Stimulus Funds and Public Housing
The National Association of Housing and Redevelopment Officials (NAHRO) released the result of a survey it conducted last summer on the use of stimulus dollars by its members. Respondents to the survey stated they had obligated 53 percent of their funds and expended 18.5 percent. On average, respondents expected to spend all of their funds by June.
The survey results included:
- A majority of respondents, 93.2 percent, said they used the funds to complete projects identified in their agency plan.
- Dwelling structures was the principal activity undertaken with these funds.
- The most popular projects were roof repairs/replacements (33.5%); heater/A/C repairs/replacements (32.2%); window replacements/upgrades (25.7%); and, parking lot/sidewalk repairs (21.8%).
- Greene improvements accounted for 38.5% of the projects reported.
- According to the report, $319,339 on average was obligated to local businesses and $61,435 has been spent on local businesses.
- The report also states that, on average, $62,071 had been obligated to minority-or women-owned businesses and $10,441 has been spent on these groups.
NAHRO recently reported to its membership that Assistant Secretary for Public and Indian Housing Sandra Henriquez has expressed her happiness with the success of housing authorities to expend these funds. Her only concern is the rate of expenditure to date but she expressed confidence it will improve.
Preliminary Findings Suggest Financial Conditions Will Continue to Decline for States
The National Governors Association (NGA) and the National Association of State Budget Officers (NASBO) forecasted continued fiscal difficulties for states in releasing preliminary results of its biannual report The Fiscal Survey of States.
The economic downturn has dramatically impacted states over the last two years have caused state officials to believe the impact on states will not be over soon. According to the findings in The State Fiscal Situation: The Lost Decade states were forced to reduce General Fund expenditures by 4.8 percent and are expected to reduce these funds by four percent in 2010.
Tax revenues are expected to continue a downward spiral in 2010 which will also be felt in fiscal years 2022 and 2012. Overall, state revenues declined 7.5 percent in fiscal 2009, which for most states ended June 30, 2009. Revenues will likely continue on this downward trend for another one to two quarters before turning up slowly.
The weakening of state fiscal conditions is reflected in the $250 billion in budget gaps faced by states between fiscal 2009 and fiscal 2011. Of the $250 billion, states closed $72.7 billion in budget gaps during fiscal 2009 and $113.1 billion before the enactment of their fiscal 2010 budgets to bring them into balance with drastically declining revenues.
Founded in 1908, NGA is the collective voice of the nation’s governors and one of Washington, D.C.’s most respected public policy organizations. Its members are the governors of the 50 states, three territories and two commonwealths. Founded in 1945, NASBO is the instrument through which the states collectively advance stage budget practices. The major functions of the organization consist of research, policy development, education, training, and technical assistance.
States Taking the Initiative to Combat Dropout Problem
Six states – Colorado, Massachusetts, Minnesota, New Hampshire, Tennessee and West Virginia – have decided to develop comprehensive state dropout prevention and recovery policies through the State Strategies to Achieve Graduation for All initiative.
The initiative will help states clearly identify their dropout problem; assess the gaps in student supports for preventing students from dropping out of school and recovering the students that drop out; and create a dropout prevention and recovery action plan for implementation that includes tactics such as state policies, executive orders, advisory councils, legislation or regulatory reforms.
The initiative is informed by a report recently released by the NGA Center, Achieving Graduation for All: A Governor’s Guide to Dropout Prevention and Recovery, which identifies the root causes of the high school dropout problem and offers an action plan for states to curb dropouts, help youth succeed and strengthen state economies. Specific recommendations contained in the report for states to reduce the incidence of students not completing high school include promoting high school graduation for all; targeting youth at-risk of dropping out; reengaging youth who have dropped out
