Day By Day

Thursday, March 08, 2012

More on the stimulus

The Washington Times reports:

Despite receiving more than $885 million in federal economic stimulus funds since 2009, the D.C. government — whose residents face one of the highest unemployment rates in the nation — cannot say how many jobs it actually created for those who live in the District.

Most of the money has been spent, and data suggest that overall regional job growth did occur as a result of the massive infusion of capital. But a review by The Washington Times of figures provided by D.C. officials shows that the city spent hundreds of millions of dollars without being able to demonstrate any significant improvement in the city’s jobs outlook.

If anything, the employment picture has worsened in the District. At the end of 2011, according to the U.S. Bureau of Labor Statistics, the city’s unemployment rate was 10.4 percent, ahead of only three states: Nevada (12.6 percent), California (11.1 percent) and Rhode Island (10.8 percent).

In the District, according to the Bureau of Labor Statistics, the unemployment rate has increased by 8 percent since 2009, as the D.C. government was receiving historic levels of federal stimulus funding via contracts, grants, loans, tax benefits and entitlements.
My bet is that it is not that they can't say, but don't want to.  Better to have no number than some pitiful excuse for a jobs creation plan.

Hey, but it's the thought that counts.  Let's multiply that $885 million by all the other "constituencies" that got cash and you can see that this was cronyism on a grand scale.

Hat tip to Weasel Zippers.


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