When I was growing up, my Mom always told me that I should finish what was on my plate before I asked for more, perhaps President Obama should follow my Mother’s advice. When the stimulus bill was passed nineteen months ago, we were told that the nearly billion dollars of new federal spending would be invested in “shovel ready projects,” much of it on infrastructure. That, as Congressman Wilson might say, is a lie.
While the American economy continues to sink into the toilet 19 months after the passage of the porkulus bill, 35% of the money from the legislation has not been spent.
Using the data from ProPublica, the chart below shows that almost $280 of the $790 billion original fiscal stimulus program is still in the system either unspent or in progress’ total 35% of the total
This $278 billion will likely be delivered by the end of 2010, and it’s a huge sum for just four months. Obviously the Democrats were so sure that the first 65% would work, they gambled on the remaining dollars hitting around election day. Oops that didn’t work .
Now the President wants to spend even more on infrastructure. Over the weekend he announced