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August 14, 2009
Stimulus being spent in dribs and drabs
Remind me again why we needed a $800 billion stim bill?
Stephen Dinan of the Washington Times is reporting that monies being spent from the stimulus bill have "slowed to a trickle:"
Stimulus bill spending has slowed to a trickle, despite President Obama's June order to his Cabinet to speed it up.
The average stimulus spending per week has dropped severely, to just $4.2 billion over the past month from $9.7 billion during the prior four months. The government spent $2.9 billion in the week ending Aug. 7.
Taxpayer groups say the numbers show spending decisions are random and prove that the $787 billion stimulus program has had no effect on the economy.
"This is a typical bureaucracy. They don't operate in an efficient way. They can't operate in an efficient way and make an impact," said Leslie Paige, media director for Citizens Against Government Waste.
The spending has slowed despite Mr. Obama's declaration in June that he was "not satisfied" with its pace, and his demand that his Cabinet secretaries accelerate the distribution of stimulus funds.
The White House said the rate doesn't matter, and that the key is whether Mr. Obama's overall targets will be met.
"Week-to-week measures are irrelevant," said stimulus spokeswoman Elizabeth Oxhorn. "We remain on track to meet the ambitious goal that the president set in June: speeding the Recovery Act's pace, so that $225 billion is obligated by the act's 200th day."
Of course, only about 10% of the stim bill was designed to be spent this year anyway so what's the rush? It's not like we're in a deep recession or anything, right?
Hat Tip: Ed Lasky