Jim Geraghty over at the Campaign Spot has a great post detailing the turtle-like pace in which the Obama Stimulus Shit Sandwich has been rolled out.
Obama's stimulus plan cost $787 billion. So far, in the first quarterly report from Joe Biden, they have "obligated" about 11 percent, or $88 billion. Of course, "obligated" does not mean "spent." It means "entered into a binding agreement that will result in outlays, immediately or in the future." In other words, they have arranged contracts to spend this money, but the funds may still be in government accounts, instead of getting out there and being, you know, stimulative.Where he misses is connecting this new information to the slew of economic recovery rhetoric being spouted from Obama's Administration. For example, our President said on April 15th:
[UPDATE: It gets worse on page 4: "As of May 5th, $28.5 billion had already been outlaid." This would make it 3.6 percent that has actually gotten out in the economy.]
[...] from where we stand for the very first time we are beginning to see glimmers of hope and beyond that very off in the distance we can see a vision of America's future that is far different than our troubled economic past.And what kind of headlines has the Administration been getting?
So here we have the Administration providing headlines saying the economy is turning around. In other words - trying to convince the public that the stimulus is working.
But now we find out that, if true, it has to be doing it all on its own since the Stimulus Shit Sandwich hasn't really done anything yet.
But will the voters realize it?