As I wrote over the weekend, it doesn’t seem like we’ve gotten the promised jobs out of the stimulus. Well, we didn’t get the infrastructure either. This report explains:
A top congressional Democrat says the White House may have oversold the roads-and-bridges component of the historic stimulus law.
An Associated Press analysis of the first $19 billion in transportation spending showed that communities most in need of jobs are least likely to benefit from the program.
A spokesman for Minnesota Rep. James Oberstar, who leads the House Transportation and Infrastructure Committee, says the White House shouldn’t have billed road money as the signature component of the stimulus, or as a surefire boost to needy communities.
So we didn’t get the jobs and we didn’t get much of what we could have used — roads, bridges, etc. And now we are penny pinching on defense because we have spent all this money on something other than jobs and infrastructure.
To top it off we learn today that Obama’s fuzzy math is already breaking down. The administration has released new and improved figures which raised “its estimate of the deficit this year to a record $1.84 trillion, up 5 percent from the February estimate, and to $1.26 trillion next year, up 7.4 percent. The administration also projected Obama’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.” And wait until they start spending on healthcare.
At some point the voters will catch on to the fiscal train wreck and the mounds of money we have wasted. Then they might get really upset — even organize themselves in the hundreds of thousands demanding change. Oh wait, they did that.