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The · Psychohistorian


Slow recovery

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Here's a breakdown of how fast the $787,000,000,000 of Federal stimulus money approved early this year is being spent:

151 billion has been spent so far and $185 billion will be spent by year's end. Another $399 billion will be spent next year ... and $134 billion will be spent by the end of 2011 ...

I guess Congress was planning for a slow recovery.

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On September 29th, 2009 01:21 pm (UTC), kirisutogomen commented:
This may be the aspect of the "stimulus" that irritates me the most. A Keynesian fiscal stimulus has no requirement about what you spend the money on; the only requirement is that it happen quickly, and the feds have successfully managed to screw up the only thing they needed to do right.

A few weeks ago I was trying to find the very numbers you've quoted. I figured it would be easy -- just go to recovery.gov, your one-stop shopping spot for everything stimulus. Silly me, of course it's not easy to find useful information there, unless you count a whole lot of vague assurances that the money isn't being stolen or set on fire as useful information.
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On September 29th, 2009 04:16 pm (UTC), psychohist replied:
Yes. One thing that can be said for the Bush tax rebates is that they hit while the downturn was still going on.

Of course, the other thing that might be said about the Bush tax rebates is that they might have demonstrated that stimulus is actually a bad idea: that we need unfettered recessions for the economy to make the adjustments needed to support sustained growth.
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