Friday, May 29, 2009

A Recess Look At Stimulus Progress

So far only $31.1 billion of the $787 billion appropriated in the economic stimulus legislation has been spent. According to this expenditure has saved or created a mere 150,000 jobs, very few of them in the construction sector, and less than one percent of the recent recession induced job losses in the United States.

Particularly disheartening are the following facts: only 13 of 50 states have received the money appropriated for education programs; 17 states report no jobs created as yet; Alaska governor Sarah Palin has vetoed $80 million of the recovery funds appropriated for her state; and Louisiana Governor Bobby Jindal has rejected $98 million in federal unemployment benefit funds for his state. According to USA Today, in the eight states with over 10% unemployment the contracts awarded amount to only $7.42 per capita, while North Dakota, with the lowest unemployment rate, has received about $26 per capita in stimulus contracts.

What are these state and local officials thinking?
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