Thank you Mr. Chairman for holding today’s important hearing, the third in a substantive series of hearings to ensure that stimulus money authorized by the American Recovery and Reinvestment Act of 2009 is spent efficiently and effectively.  I commend the committee, today’s panelists, and our President for taking actions to ensure that potential problems are identified before they threaten the viability of this critical recovery effort.

 The American Recovery and Reinvestment Act of 2009 authorized $501.5 billion worth of new spending measures along with $285.6 billion in tax provisions.  The purpose of the Recovery Act is to revitalize the American economy while assisting those most impacted by the current recession.  This landmark legislation aims to create or save 3.5 million jobs while investing in the transformation of our economy and infrastructure for the 21st century.

 In order for this investment to succeed it is critical that these funds quickly reach communities where they can have the greatest possible impact.  However, the requirement for expediency must be tempered with caution and careful oversight to prevent waste, fraud, and abuse.
 As the economy continues to shed jobs and capital daily this hearing occurs at a critical point for evaluating what has been done so far with the stimulus funds, and where we go from here.  For my constituents living in California with a state economy facing staggering budget shortfalls and severe cuts to critical services the need for this money to be spent efficiently, strategically, and transparently is even greater.
 
 We have already seen these funds start to do great things in our communities, such as the $1.3 million grant which will go to the Asian Pacific Health Care Venture in my district to establish new community clinic sites which provide primary and preventive health care to the uninsured and underserved.  However, the fact that the unemployment rate has risen to 9.5% nationally and to 11.4% in Los Angeles reinforces the need for this money to begin creating jobs and opportunities as soon as possible.

 I look forward to hearing the testimony of today’s witnesses, and I hope that they will provide this Committee with a clear assessment of the obstacles we face, and the steps necessary to overcome them.

 Thank you Mr. Chairman and I yield back the remainder of my time.