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Big chunk of economic stimulus still unspent

By Ed O'Keefe

An important read from Saturday's Post, by colleague Alec MacGillis:

As Americans puzzle over why the economic stimulus package enacted more than a year ago has failed to restore vigorous job growth, one explanation has emerged from new reports: A lot of the money is not yet out the door.
Detroit is struggling with 14 percent unemployment, but as of June 30 the city had spent less than 1 percent of the $8.8 million in stimulus funds it received for energy-efficiency initiatives. In budget-strapped Arizona, Phoenix has spent even less of its $15.2 million, and in hard-hit South Florida, Fort Lauderdale has spent $66,000 of its $2 million.
The $862 billion package was divided roughly in thirds among tax cuts, aid to states and the unemployed, and investments in infrastructure, health care and other areas. The first two have delivered most of their boost, but much of the investment spending is moving far more slowly. At the end of July, nearly 18 months after the stimulus passed, more than half of the $275 billion in investments had yet to be spent.

Continue reading this story >>>

By Ed O'Keefe  | August 16, 2010; 4:45 PM ET
Categories:  From The Pages of The Post, Tracking the Stimulus  
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Yes Higher Education gets you Higher paying job

Posted by: nelsonjoe17 | August 17, 2010 4:17 AM | Report abuse

It should go right into paying down our debt. The Stimulus was a failure, stuffed with pork and perks for the Unions. It did nothing for Unemployment being kept at 8% as promised.
Obama has still not lifted the Moratorium on drilling in the coast, and is destroying our economy. Meanwhile China is the #2 economy, they own our debt, and are building up their military. This POTUS should stick to Community Organizing.

Posted by: joanz3 | August 17, 2010 10:33 AM | Report abuse

How much would it cost to just bulldoze Detroit in its entirety?

Posted by: jiji1 | August 17, 2010 1:24 PM | Report abuse

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