Stimulus anniversary timeline: A year on the road to nowhere

posted at 7:45 pm on February 17, 2010 by Karl

Allahpundit is probably right that Pres. Obama’s attempt to spin the “stimulus” law as a success is politically futile. However, the Obama administration is going to spend all week on the effort (“More Cowbell!”), so it is worth a look at how their first big project ended up with a six percent approval rate in the Dem-friendly CBS/NYT poll. House Republican Whip Eric Cantor has the full timeline (.pdf); these are just a few of the grim milestones on the Road to Nowhere:

  • February 17, 2009: The nation’s first Recovery Act project is announced, a new bridge in Tuscumbia, MO. CNN later reports on “A New ‘Bridge to Nowhere’.”
  • April 13, 2009:The Administration announces the 2,000th Recovery Act project, but an ABC News fact check reveals that far fewer projects are actually underway, and may not come in under budget as claimed.
  • May 27, 2009: President Obama marks the 100 day anniversary of the Recovery Act by claiming that 150,000 jobs have been saved or created. Politifact calls this “not much better than a guess presented as a fact.”
  • July 27, 2009: Congressional Democrats claim highway and transit spending from the stimulus has created or sustained 48,000 jobs. ProPublica says “the estimate suffers from what’s become a common malaise in the stimulus world: fuzzy math.” ProPublica found “a reliance on raw head counts — which tend to inflate the numbers by giving full- and part-time jobs the same weight — and by counting the same workers two, three or four times.”
  • October 15, 2009: The administration announces that contracts awarded with Recovery Act funds have created or saved 30,383 jobs. The Associated Press found “some counts were more than 10 times as high as the actual number of jobs; some jobs credited to the stimulus program were counted two and sometimes more than four times; and other jobs were credited to stimulus spending when none was produced.”
  • October 30, 2009: The administration announces that the Recovery Act has saved or created 640,329 total jobs. On November 19, the Administration admits that they cannot confirm their claim.
  • December 18, 2009: The Administration sends out a memo saying they will no longer count jobs “created or saved,” but instead count jobs funded in whole or in part by the Recovery Act. But they brought it back in the most recent report from Obama’s Council of Economic Advisers.

What leaps out from the timeline is that the Democrats not only oversold the Recovery Act, but continued to oversell it — not just with these claims but also puffery from Joe Biden, Nancy Pelosi, etc. Meanwhile, the unemployment rate rose from 7.6% to over 10 percent. In addition, the adminsitration was embarrassed by a stream of news stories about wasteful stimulus projects like the $3.4 million spent for an alligator crossing, the million-dollar guardrail, and so on. It is small wonder so few believe the Recovery Act was a success.

The holdouts tend to be in the establishment media, like the New York Times. David Leonhardt relies on models from economic search firms, perhaps those who have been continually surprised as unemployment rose “unexpectedly.” Others will tell you that the stimulus at best “saved” jobs, but did not “create” them. The Congressional Budget Office will tell you that “it is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package.” And when you look at those competing views, you will find a general agreement that the jobs that got saved were primarily in government, and education (which is mostly government). In the private sector, the Recovery Act is killing some jobs, as it extracts money to prop up the government spending. In addition, Leonhardt leaves out arguments that that other policies may have been not only cheaper, but also more effective. He also omits warnings from the very sources he cites that any short-term gain from the stimulus should be balanced against the medium-term risk of a debt crisis. That road is worse than a Road to Nowhere.


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Happy days are here again…. We are all saved… Obama said so………..

sandee on February 17, 2010 at 7:48 PM

Katie Couric and CBS News spun hard for the Stimulus this evening.

myrenovations on February 17, 2010 at 7:49 PM

In my fifty some odd years on Earth I’ve found that when you toot you own horn, you don’t deserve it.

If you are good, people know it without you having to point it out.

jukin on February 17, 2010 at 7:52 PM

Does anyone really know where the money is going?

WisCon on February 17, 2010 at 7:53 PM

Katie Couric and CBS News spun hard for the Stimulus this evening.

myrenovations on February 17, 2010 at 7:49 PM

And unlike during the Obama campaign, this time they fooled no one.

Guardian on February 17, 2010 at 7:53 PM

These clowns read George Orwell’s ’1984′ and saw it not as a warning, but as a training manual.

Skandia Recluse on February 17, 2010 at 7:55 PM

jukin on February 17, 2010 at 7:52 PM

tru dat. +2

ted c on February 17, 2010 at 7:56 PM

Memo to THE ONE: You are supposed to under promise and over deliver, not the opposite.

Chewy the Lab on February 17, 2010 at 7:56 PM

I heard the idiot president say once again how transparent his administration has been in the past year.

And we are the stupid ones who can’t understand his message?

Look in the mirror child, you’re the dope. And a liar to boot.

fogw on February 17, 2010 at 7:57 PM

The United States of America…

… being run by greesy, corrupt, lying, graft, used car sales men.

(with apologies to used car sales men)

Seven Percent Solution on February 17, 2010 at 7:57 PM

myrenovations on February 17, 2010 at 7:49 PM

This is sooo much easier than looking at reality and doing real reporting. CBS used to choose to be liberal, now they are losing the assets to be much more than an illustrated headline service for the NYT and AP.

Did I tell you about the disgruntled network person I know…(someone just had a stroke)…

IlikedAUH2O on February 17, 2010 at 7:58 PM

How apt that the anniversary falls on the Christian day of Repentance. I don’t know about you but I feel like lighting a candle, saying a prayer, and hoping that this national nightmare is soon behind us as soon as November.

highhopes on February 17, 2010 at 7:58 PM

I really loved the bouncing numbers of jobs “saved or created”. You did a nice round-up, Karl, but no one could include all the moving claims. Up, down, up, down, … With a crescendo as three administration higher-ups all declared different numbers on the same day to three separate Sunday news shows. And then they just started all over again. You can’t make sh!t like this up. Well, I guess leftists can, as they had no problem actually making this sh!t up.

I think they have gotten away with this because no one ever believed any of their numbers, anyhow. Who cares if The Precedent claims 2 million jobs created or saved (LOL) one day and 1.5 million saved or created a month later, while recovery.gov has something like 421,233.88723 jobs created (who ever goes to recovery.gov, anyway?).

I do think it’s nice of the lame streams to keep calling it a $787 billion POS bill when the CBO has already put it up over $850 billion. Nostalgia, I guess …

neurosculptor on February 17, 2010 at 8:00 PM

Memo to THE ONE: You are supposed to under promise and over deliver, not the opposite.

Chewy the Lab on February 17, 2010 at 7:56 PM

And for God’s sake stop making every speech about yourself- as if anybody still gives a rodent’s behind about you. I’m willing to bet even your security detail has a countdown clock running back in their office.

highhopes on February 17, 2010 at 8:01 PM

What should bother you is not the lies and distortions, but the fact that over $500 billion is yet to be spent. The Dems are going to use this money like a slush fund to buy votes this November.

GnuBreed on February 17, 2010 at 8:02 PM

It’s only been a year?

yoda on February 17, 2010 at 8:03 PM

Politifact calls this “not much better than a guess presented as a fact.”

There are two types of guesses the educated guess and the WAG (wild arse guess). The won definitely majors in WAGs.

chemman on February 17, 2010 at 8:03 PM

If you are good, people know it without you having to point it out.

jukin on February 17, 2010 at 7:52 PM

You noticed that, too…

Seven Percent Solution on February 17, 2010 at 8:03 PM

Nice recovery.gov logo. Really. Top notch. Sarah cannot compete.

chaswv on February 17, 2010 at 8:04 PM

Since the Stimulus Bill managed to stimulate the flight of indies along with overwhelming anti-Nobama sentiment – in almost record time – I’d have to say it’s been a success.

joejm65 on February 17, 2010 at 8:05 PM

Our school district got $25 million last year from the stimulus–it kept us from pink slipping a bunch of staff last year, but that money’s gone and we still have to pink slip a bunch of folks (500 teachers alone) this year. To my way of thinking, a job isn’t saved or created unless it’s more or less permanent, and none of these were, so what’s the point?

Bob's Kid on February 17, 2010 at 8:08 PM

Not only hasn’t the stimulus saved any jobs, it has actually killed jobs.

Government jobs have been created, but for every government job, at least 1.5 private sector jobs could have been created.

And most of the money has gone to maintaining or increasing government jobs.

If that number actually was 2,000,000, then at least 3,000,000 jobs were destroyed to create them.

Moreover, it is impossible to kill a government job, and each one takes about 5 private sector jobs to sustain.

We will be paying the price for that for two generations.

notagool on February 17, 2010 at 8:09 PM

To my way of thinking, a job isn’t saved or created unless it’s more or less permanent, and none of these were, so what’s the point?

Bob’s Kid on February 17, 2010 at 8:08 PM

The NEA kept its members happy for another year. Which of course is a political necessity for the filthy lying coward in the White House. Your kids and school district ultimately get screwed but that is Bush’s fault.

highhopes on February 17, 2010 at 8:10 PM

Hey guys, I received my campaign donation thank you letter from Senator Scott Brown today on official stationery. That’s getting framed and hung on the wall next to my photo of Ronaldo Maximus.

WE can make a DIFFERENCE.

fogw on February 17, 2010 at 8:11 PM

Just so we all remember, there was ONE company that refused to go along when “everyone else” was doing it… seems they understand uniquely what it means to be an American:

http://www.richhumor.com/wp-filez/PerhapstheBestFordCommercia.wmv

UnderstandingisPower on February 17, 2010 at 8:19 PM

Katie Couric and CBS News spun hard for the Stimulus this evening.

myrenovations on February 17, 2010 at 7:49 PM

Shep tried too.

conservnut on February 17, 2010 at 8:19 PM

What does Evan Bayh say about this piece of crap?

d1carter on February 17, 2010 at 8:20 PM

The new Obama theme song (Talking Heads)?

WashJeff on February 17, 2010 at 8:27 PM

. . . the road to nowhere?

The road to ruination for my children, and their children as well.

And that’s the ‘rosy’ scenario.

CPT. Charles on February 17, 2010 at 8:28 PM

I still don’t have a job and life generally sucks. Thanks Obama!

EnochCain on February 17, 2010 at 8:28 PM

fogw on February 17, 2010 at 8:11 PM

Got mine too. Didn’t think about framing it or saving, but you got a point, wow! We are the ones we’ve been waiting for! /semisarc (is there such a thing???)

Seriously, we are living in historic times. I hope I don’t sound too narcissitic in saying that we have to help ensure that history will record the current chicanery appropriately. I know I had so, so much of American history wrong because I took what was taught to me at face value. I am far from knowledgeable now, but am trying to learn something new everyday.
Nobody will know who Chewythelab is in 5, 10, 100 years. I just hope that something I say here, or elsewhere, will resonate with someone way down the road,and they will maybe question their government just a little bit.
Am I nuts?

Chewy the Lab on February 17, 2010 at 8:29 PM

Well,is the bridge fixed in New Orleans yet!!

canopfor on February 17, 2010 at 8:30 PM

The holdouts tend to be in the establishment media, like the New York Times. David Leonhardt relies on models from economic search firms, perhaps those who have been continually surprised as unemployment rose “unexpectedly.”

Boy, i came to HotAir ’cause I was curious to see how you addressed the news that three leading, independent economic research firms all agree the stimulus bill created at least 1.5 million jobs, with as much as a million more yet to come (consider that a lot of those “shovel-ready” jobs will actually be seen this year).

I’m not surprised it’s treated as an opinion of the “liberal NYTimes” (is there ANYTHING you guys won’t use the media bias crutch for?), and that the findings of the three leading independent economic research firms are dismissed (and buries) in a glancing sentence in the middle of the piece that makes a complete irrelevant reference to a word choice some used in describing a couple-month-old climb in unemployment.

I shouldn’t be surprised, you face this news head on and you pretty much HAVE to admit the stimulus bill created a lot of jobs and without it, the economy would have been much worse off.

Tom_Shipley on February 17, 2010 at 8:31 PM

Me thinks,Hopey,is kick’n the can down zee road
to nowhere!!

And,I thought todays Lefty talk’n point,was the
“Lost Decade”!!

Jus sayin!!

canopfor on February 17, 2010 at 8:33 PM

I found the perfect song for this “celebration”.

mizflame98 on February 17, 2010 at 8:33 PM

Lots of jobs coming right up, though!

That 500 billion of stim money will suddenly start pouring out of DC like puke out of a puppy….I’d say June 1st would be a really good time to trigger a boatload. Just in time for the mid-terms! Imagine that!

GoldenEagle4444 on February 17, 2010 at 8:34 PM

Tom_Shipley on February 17, 2010 at 8:31 PM

Put down the koolaid and step back away from the fence.

Ain’t nobody buying anything you’re selling.

GoldenEagle4444 on February 17, 2010 at 8:37 PM

The new Obama theme song (Talking Heads)?

WashJeff on February 17, 2010 at 8:27 PM

WashJeff: Here ya go:)
==============================
Talking Heads – Road To Nowhere

http://www.youtube.com/watch?v=cYFFc5ZyRQA

canopfor on February 17, 2010 at 8:38 PM

Epic fail. Down the crapper.

Philly on February 17, 2010 at 8:38 PM

WashJeff on February 17, 2010 at 8:27 PM

mizflame98 on February 17, 2010 at 8:33 PM

Great song choice!!!

yoda on February 17, 2010 at 8:38 PM

Tom_Shipley on February 17, 2010 at 8:31 PM

Pound sand, moron…give evidence, and I mean real evidence. “The science was settled” on global warming too.
I don’t believe any stats these days…too easy to manipulate.

Chewy the Lab on February 17, 2010 at 8:39 PM

Boy, i came to HotAir ’cause I was curious to see how you addressed the news that three leading, independent economic research firms all agree the stimulus bill created at least 1.5 million jobs, with as much as a million more yet to come (consider that a lot of those “shovel-ready” jobs will actually be seen this year).

Tom_Shipley on February 17, 2010 at 8:31 PM

You’re not familiar with the concept of opportunity cost, I see. Not surprising.

neurosculptor on February 17, 2010 at 8:39 PM

I found the perfect song for this “celebration”.

mizflame98 on February 17, 2010 at 8:33 PM

mizflame98:I should of clicked first,sorry,you
beat me to it!!:)

canopfor on February 17, 2010 at 8:40 PM

I found the perfect song for this “celebration”.

mizflame98 on February 17, 2010 at 8:33 PM

mizflame98:I should of clicked first,sorry,you
beat me to it!!:)

canopfor on February 17, 2010 at 8:40 PM

Great minds think alike

mizflame98 on February 17, 2010 at 8:44 PM

David Leonhardt relies on models from economic search firms, perhaps those who have been continually surprised as unemployment rose “unexpectedly.”

Did David go to the school of manipulating models with Al Gore and Phil Jones where B pluses were unexpectedly passed out?

Rovin on February 17, 2010 at 8:44 PM

Watch what Obama does and never what he says.

jukin on February 17, 2010 at 8:45 PM

Now were talking!!!!!!!!!!!!!!!!!
======================================

GOP wants televised jobs debate
=================================

http://www.politico.com/news/stories/0210/33081.html

canopfor on February 17, 2010 at 8:47 PM

canopfor on February 17, 2010 at 8:40 PM

Great minds think alike

mizflame98 on February 17, 2010 at 8:44 PM

mizflame98:Yup,hehe:)

canopfor on February 17, 2010 at 8:48 PM

If it was working, would they need to spend the better part of a week telling us it’s working?

I believe this administration engages in Group Doublethink; they at once accept as fact that the stimulus worked, and it didn’t and more stimulus is needed (jobs bill). Thank the lord that Reid’s incompetent leadership has temporarily scuttled the “jobs” bill.

I hated the 70s, but it looks like they are happening again. I just hope we hold on long enough to repeat the 80s. We need us some Ronald Reagan – even if it means big hair, leg warmers and mullets.

darkpixel on February 17, 2010 at 8:49 PM

http://www.richhumor.com/wp-filez/PerhapstheBestFordCommercia.wmv

UnderstandingisPower on February 17, 2010 at 8:19

Never saw it before. Absolutely wonderful! Thanks for sharing.

Chewy the Lab on February 17, 2010 at 8:50 PM

Funny, more than 100 Republican congress people who voted against the stimulus have been begging for funding, cutting ribbons and bragging about how many jobs the projects they voted AGAINST will create.

Republicans hitchhiking on the road to nowhere. No surprise there.

chumpThreads on February 17, 2010 at 8:50 PM

Katie Couric and CBS News spun hard for the Stimulus this evening.

myrenovations on February 17, 2010 at 7:49 PM

I read a story a week or so ago, about Couric getting all decked out in expensive clothes to do a photo shoot, while reporters at CBS were going to be , or have lost their jobs. One of the comments on this site, and I can’t remember which site, and if I find it, I’ll post it, but the comment said Couric has an expensive summer home, and the local library wanted to expand on it, to make a better childrens section. Couric, and others fought hard against this, because it would mean children of lesser means would be coming into her neighborhood, and the local elites did NOT want that.

If this is true, then why on Gods green earth would anyone believe this woman, let alone Obama gives a sh!t about jobs for anyone? It’s ALL about them.

Tom_Shipley on February 17, 2010 at 8:31 PM

ummmm What? LOL If these numbers were accurate…1.5 million jobs created you say? If that’s true, than why are they talking about another stimulus, and why are they needing more money to cover unemployment benefits? It’s bogus. You’re the kind of pawn they love. Willing to believe without proof, and willing to deliver this false proof, in a desperate attempt to convert just one to this b.s.

capejasmine on February 17, 2010 at 8:55 PM

I shouldn’t be surprised, you face this news head on and you pretty much HAVE to admit the stimulus bill created a lot of jobs and without it, the economy would have been much worse off.

Tom_Shipley on February 17, 2010 at 8:31 PM

Hey Tom, where ya been? Long time since Captain’s Quarters, huh. quick question—do you expect to have any grandchildren that will wonder why liberals passed on this false economy bill to be paid for by them? Be sure to leave a video of why you advocated for this to prevent “your economy” from being worse off.

Rovin on February 17, 2010 at 8:57 PM

Links about the library…

http://www.schoollibraryjournal.com/article/CA6581006.html

Barack, Katie — it’s all about me. When a library expansion near her $6.3-million summer home threatened to attract children from surrounding middle-class towns, she was one of the homeowners whose representatives urged the zoning board to stop the project. With Obamaesque sensitivity for the chef-less masses, she wanted to protect the children who would feel out of place in a resort town peopled by the likes of Martha Stewart and Jerry Seinfeld.

http://www.americanthinker.com/2010/02/katie_couric_return_of_the_pal.html

Tell me again, how liberals care about the little guy?

capejasmine on February 17, 2010 at 9:02 PM

Ahh! Rachel Maddow is outing a new bunch of Republican hypocrites right now!

Shame, thy initials are GOP!

chumpThreads on February 17, 2010 at 9:07 PM

Ahh! Rachel Maddow is outing a new bunch of Republican hypocrites right now!

Shame, thy initials are GOP!

chumpThreads on February 17, 2010 at 9:07 PM

So you are one of the 10 viewers she has? LOL

capejasmine on February 17, 2010 at 9:10 PM

Shipley’s back?
Dude, you didn’t see Beck tonight? Catch the rerun, it’s on late. Set your DVR.

Skandia Recluse on February 17, 2010 at 9:12 PM

Ahh! Rachel Maddow is outing a new bunch of Republican hypocrites right now!

Shame, thy initials are GOP!

chumpThreads on February 17, 2010 at 9:07 PM

chumpThreads:STOP FREE_BASING THE KOOL-AID,its not covered
under Hopeys HealthCare!!

canopfor on February 17, 2010 at 9:12 PM

Are those loose screws on the bottom right of the Obama Recovery logo?

Or unmeshing gears?

Either way, apt.

profitsbeard on February 17, 2010 at 9:16 PM

“Mad Malkin” seems to have overlooked the story of Republican duplicity on the stimulus too.

The DNC will have a field day with this come election time!

chumpThreads on February 17, 2010 at 9:19 PM

The DNC will have a field day with this come election time!

chumpThreads on February 17, 2010 at 9:19 PM

LOL. Go for it, slimeball. You guys are too funny.

neurosculptor on February 17, 2010 at 9:20 PM

chumpThreads:STOP FREE_BASING THE KOOL-AID,its not covered
under Hopeys HealthCare!!

canopfor on February 17, 2010 at 9:12 PM

When you can’t dispute the facts, go with lame…

chumpThreads on February 17, 2010 at 9:21 PM

Yeah, “The Recovery Act”, the gift that keeps on giving.

GarandFan on February 17, 2010 at 9:26 PM

SarahPalinUSA:

A year ago today Rep.Obey’s Stimulus Bill became law…let’s fight back for America’s future; go to #rollwithsean http://bit.ly/9FLr9V

Juno77 on February 17, 2010 at 9:27 PM

When you can’t dispute the facts, go with lame…

chumpThreads on February 17, 2010 at 9:21 PM

Sez the bozo with chump in their ‘handle’.

Axelturf is bringing out the third-stringers, I see.

CPT. Charles on February 17, 2010 at 9:52 PM

Soooooooo, by losing 7 million jobs, the stimulus plan is a success for the democrats? Where are the “shovel ready jobs”? Turtle tunnels in Florida? Rodent habitats in Bezerkley, CA? More Acorn funding? Arizona districts that don’t exist created jobs? Just to name a few?

How about Obowma Saved or created 10% unemployment!!

THANK YOU DEMS, and here’s some gubmint cheese on your way out in 2010, real American’s have some housecleaning to do.

dthorny on February 17, 2010 at 10:03 PM

Obama is holding this money back to buy the 2010 elections.

If the Republican Party is too ignorant to get ahead of this, then they deserve to get beat.

cntrlfrk on February 17, 2010 at 10:12 PM

CREATED OR SAVED?

GOD CREATED US.

JESUS SAVES US.

OBAMA RUINS US.

IlikedAUH2O on February 17, 2010 at 10:59 PM

chumpThreads on February 17, 2010 at 9:07 PM

Wow. And for years, one of us on this moniker thought the second d in her name was a c.

IlikedAUH2O on February 17, 2010 at 11:01 PM

It ain’t Seward’s folly, its Obama’s flop.

No wonder the Dems are determined to cover it up.

Speakup on February 17, 2010 at 11:14 PM

WHile it is possible that govt spending could save jobs, it is absolutely certain that govt borrowing and taxing destroys job in at a minimum, equal numbers.

MarkTheGreat on February 18, 2010 at 8:48 AM

IIRC, they’ve blown about $300 billion so far. That leave around $480 billion to go. My thoughts are that will be their campaign fund – that money will kick in to cause a spike in jobs (and nifty handouts to Dem action groups) around 2011.

Of course, after the election, the ‘correction’ will come when debts from the faux recovery have to be paid off, but hey, it’s lame duck status at that point so who cares…Plus it will be another crisis that Rahm can’t afford to waste.

Yeah tinfoil hat time, but don’t forget when porkulus was passed everyone, including HotAir, I believe, noted most of the money wouldn’t kick in until after a few years had passed.

batter on February 18, 2010 at 9:46 AM

Amateurs…You would think that none of folks in this administration have any executive experience.

Oversell+Underdeliver=Lost credibility

Undersell+Overdeliver=Inspire confidence

Leadership 101…

Nozzle on February 18, 2010 at 9:59 AM

chumpThreads on February 17, 2010 at 8:50 PM

Who cares…We demand good government, period…Republican fools like John McCain and Lindsey Graham are going to get the comeuppance of a lifetime along with your dear leader and the legions of frauds in our government…

Nozzle on February 18, 2010 at 10:03 AM

I shouldn’t be surprised, you face this news head on and you pretty much HAVE to admit the stimulus bill created a lot of jobs and without it, the economy would have been much worse off.

Tom_Shipley on February 17, 2010 at 8:31 PM

I’m going to stay away from the frankly unwise categorical statements because I’m quite sure the stimulus kept many state workers from getting furloughed. Probably hundreds of thousands overall. And I drive under about a dozen battered and rusty overpasses in PA on my way to work every day that are being replaced with ARRA money, and I’m frankly glad to see that going on.

It doesn’t make “saved or created” any less of an insult to thinking people.

It doesn’t make the data any cleaner (nonexistent ZIP codes and Districts — what else is wrong?).

It doesn’t excuse all the many documented problems with double-counting, misreporting, etc.

It doesn’t put aside the fact that many of those Republican objections were procedural objections.

It doesn’t let us ignore that the “targeted, timely, and temporary” stimulus has seen little correlation of spending with baseline local economic conditions, only a fraction of the funds spent of even fully obligated in the first year (making the presumed multiplier completely ridiculous), and has seen some of the temporary spending programs now incorporated into the President’s new budget baseline.

And most importantly, it doesn’t get the President a pass for the completely ineffective PPIP and the almost completely ineffective mortgage mod programs (you might remember all the toxic paper and the housing crisis?). He’s failing on the fundamentals and trying to paper it over with the $787 billion. Anyone see Elizabeth Warren on CNBC last week talking about what’s keeping her up at night? Anyone get any sense that the Administration’s doing any blessed thing about that?

[I had tried to post this earlier with CNBC links but it got caught in moderation -- that's weird.]

You’d have to be an idiot to give the President anything but an “Incomplete” at this point.

DrSteve on February 18, 2010 at 11:54 AM

And I drive under about a dozen battered and rusty overpasses in PA on my way to work every day that are being replaced with ARRA money, and I’m frankly glad to see that going on.

DrSteve on February 18, 2010 at 11:54 AM

Keep in mind you have been paying a “fuel” tax (currently $0.18 per gallon FED) + state and local taxes (if your state has them) “fuel” tax all for the repair, upgrades and maintenance for roads for DECADES!

Obviously that money was not spent on repair, upgrades and maintenance for roads.

So now the Fed wants to “give” some money thru ARRA to do the repair, upgrades and maintenance for roads that you and I along with everyone else have already paid for 10 times over!

DSchoen on February 18, 2010 at 2:34 PM