Good news: Much of stimulus won't even be spent until 2011

A Congressional Budget Office analysis of President Barack Obama’s plan found that most of the approximately $355 billion in proposed discretionary spending on highways, renewable energy and other initiatives wouldn’t be spent before 2011. The government would spend about $26 billion of the money this year and $110 billion more next year, the report said…

“We have serious concerns that the bulk of this spending won’t have an immediate or short-term positive effect on the economic crisis,” said Jennifer Hing, a spokeswoman for Representative Jerry Lewis of California, the top Republican on the House Appropriations Committee. “This is especially troubling given the massive size of the package and the enormous burden of debt it is placing on the taxpayers.”

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