While it won't solve all our nation's economic woes, the freshly minted stimulus bill surely will provide a much-needed boost in an otherwise dismal picture.

With the U.S. House and the Senate in agreement, Hawai'i stands to receive more than $670 million through the American Recovery and Reinvestment Act to help ease the pain of the struggling economy.

Even at a total cost of $787 billion, the stimulus won't be enough to rescue the country from its economic doldrums. But for struggling individual states — Hawai'i included —it's a welcome fiscal infusion.

Thankfully, some of that relief will go directly to those who need it — extended unemployment benefits, help with Medicaid costs for the poor, tax relief for individuals and families as well as Social Security recipients. It also includes more money for food stamps and Head Start.

But there will also be some money for local governments to spend on roads and bus systems, public housing and education.

And with Hawai'i in such deep economic pain, that relief comes none too soon. The state's unemployment rate hit 5.5 percent in December, the highest in nearly a decade. And the budget shortfall for 2010 is now projected to be more than $300 million.

The stimulus money should help get "shovel-ready" construction projects, such as roads, bridges and highway repairs, launched quickly.

But it's also critical that the Lingle administration and the Legislature work collaboratively — and urgently — to reach swift agreement on how to best invest this federal largess coming our way.

It means identifying how to spend our "stabilization fund" allocation for education, balancing instructional needs with repair, maintenance and school modernization.

It means working efficiently to patch some of the holes in the social safety net that covers the basics — food, shelter and healthcare.

It means state and local officials working with Hawai'i's congressional delegation so we can aggressively compete for stimulus funds set aside for renewable energy, airports and harbors and broadband infrastructure.

And it means working with a renewed sense of urgency, without partisan bickering that inspires needless delays.

The governor's chief of staff, Barry Fukunaga, said Friday the administration won't wait for the Council on Revenues report in March to start presenting its plans for putting the stimulus money to good use.

That's encouraging. The Legislature, too, must be ready to act, since the urgent time frame may require loosening procurement rules tied to the stimulus spending.

The road ahead is long and difficult, even with federal help. But with smart planning — and local governments giving top priority to those who need help most — we'll recover, one step at a time.

Let's get started.