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Just months ago, many states feared their budgets might face shortfalls for years because of the COVID-19 pandemic. But now most could have temporary surpluses after President Joe Biden signed the American Rescue Plan Act (ARPA) into law in March.
ARPA will provide states with a total of $195 billion in flexible funding (local governments receive an additional $130 billion), with even more dollars designated for specific policy areas such as K-12 education. The money is welcome, but states face the risk that spending will increase to levels that will prove impossible to sustain once the federal relief expires at the end of 2024. But states that plan ahead and act responsibly can avoid that risk, address the immediate challenges posed by the pandemic, and position their budgets and economies to be on stronger footing after the federal help ends.
Long Term Downtrend in GDP
By definition a recession occurs when GDP declines in two consecutive quarters, which is one of the reasons why all recessions are not created equal. In 1970 and 1974 GDP contracted by a modest -0.32% and -0.54%, minor hick-ups compared to the 1982 decline of -1.80%. The 1990 recession was shallow as GDP only fell by -0.11%. In 2001 GDP actually rose by +1.00% but during the year there were two consecutive quarters in which GDP was lower so it was technically ruled a recession. In 2009 GDP shrank by -2.54%, which was the largest annual decline since the post World War II plunge of -11.6% in 1946.
Does Government Fund the Best Entrepreneurial Ventures? The Case of the SBIR Program April 21, 2021 2:00 PM to
April 21, 2021 3:00 PM NSF (virtual)
Join the Invention to Impact Wireside Chat: Does Government Fund the Best Entrepreneurial Ventures? The Case of the SBIR Program,” a conversation with Timothy B. Folta of the University of Connecticut’s School of Business. At 2:00 PM Eastern on April 21, Dr. Folta will discuss how government programs can effectively implement entrepreneurial ventures and take questions. Read the presentation description and Dr. Folta s bio below.
Does Government Fund the Best Entrepreneurial Ventures? The Case of the SBIR Program
Policy makers around the world are increasingly interested in spurring entrepreneurship by providing capital to promising ventures and often develop government programs designed to do so. Whether governments can effectively identify and reward the m
View from the Right: Throwing large sums of federal money at infrastructure will have disappointing results norwichbulletin.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from norwichbulletin.com Daily Mail and Mail on Sunday newspapers.
Greentech Media closes its doors this week. But the energy transformation it’s been chronicling for the past 14 years is just getting started.
Since its 2007 founding, this site you’re on now grew from a slim-staffed startup with a flair for incisive coverage of the then-fledgling solar, smart grid and energy storage industries, to the news arm of a global energy industry research and analysis firm.
Over the course of more than 18,000 articles and countless comments-section conversations, GTM became an unofficial hub of a U.S. clean energy and technology community that has evolved into a mighty and globe-spanning economic force. As a reporter who’s always dreamed of becoming a useful member of society by learning and writing about work that I find both fascinating and essential to the future of humankind, I can’t express how grateful I am to be part of that community.