The Stimulus' Slow Emergency: Good Thing the Economy's Still in Trouble!

Brian Doherty | June 30, 2009

We couldn't stop to think for a second whether we needed a gajillion dollar stimulus bill passed right the hell now!!! last year; however, its tangible effects, whatever they might be (hint: much bigger tax bills in the future), can wait. Via MSNBC:

The idea behind the government's economic stimulus package was to get money flowing through the system, boost economic activity and create jobs. But an msnbc.com review of the latest federal spending data shows that the money is flowing at a trickle.....

As of mid-June, for example, spending by the Transportation Deptartment for so-called "shovel ready" projects represented barely 2 percent of available funds. The EPA has barely touched its $4.4 billion in stimulus spending. Same for the Defense Department.

According to our calculations, roughly $53 billion or one-third of the $150 billion in fiscal stimulus money available for this year has been spent as of June 19. As a percentage of the $479 billion in total stimulus funds, that represents only 11.1 percent.