I give one example that I believe is typical to the Obama stimulus "plan."
In Nevada, $490,000 of stimulus money was paid out for the purchase of trees and the creation of 2 jobs.
Take a look at the original totals for the $787 Stimulus (facts come from Recovery.gov). In addition to the original total, nearly 200 billion addition dollars have been added to the original amount. Add in interest on this sum and you have somewhere over $1.3 trillion dollars.
Category | Funds Paid Out | Total Recovery Act Funds | % Funds Paid Out |
---|---|---|---|
Tax Benefits | $259.9B | $288B | 90% |
Contracts, Grants, Loans | $222.1B | $275B | 81% |
Entitlements | $187.4B | $224B | 84% |
Original Stimulus Total.............$787B
Looking at the original intent of the stimulus legislation, we see that just $222 billion has been spent for the creation of jobs and 42% of that money was borrowed AND 50% of the total was lost to waste, fraud and administrative costs at the Federal, State, county and municipal levels.
In short, the stimulus was a stark failure and for monetary reasons we can actually document.
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