Obama's Quick Loans Headed to States in Two Days

States get aid Wednesday

Obama held a formal dinner with the nation's governors at the White House on Sunday.

Now that the economic stimulus package has passed, President Barack Obama is wasting no time sending quick loans to states to cover Medicaid.

Medicaid supplements medical costs for poor people who don’t get health insurance through their employers.

Wasting no time

Obama is very specific about when states will get their quick loans: Wednesday. Obama will release $15 billion that day to states that have shortfalls in their Medicaid coverage.

Obama says this money will help 20 million Americans keep their health coverage.

Oversight and transparency

Obama has called on Vice President Joe Biden to monitor how states are using the stimulus money. He is charged with ensuring that no money is wasted.

In effort to stay true to his promises of transparency, Obama created the Recovery Act Transparency and Accountability Board. He appointed Chairman Earl Devaney, inspector general at the Interior Department.

Good examples

Some states have taken their own steps to ensure residents know how the stimulus money is being spent. Governor Deval Patrick of Massachusetts had a web site created that allows everyone to view how much stimulus money his state is getting and how it is being spent.

A few other states have launched similar web sites, and the White House has a web site with the same concept. Obama encouraged more states to follow suit. ... click here to read the rest of the article titled "Obama's Quick Loans Headed to States in Two Days"