Quick Note –
As President Obama heads to the Key Bridge to continue his campaign for Stimulus 2.0, the Washington Post has a must read story highlighting how the government couldn’t manage the first one. President Obama heavily touted infrastructure spending in his original $800 billion stimulus package, with Washington D.C. receiving nearly 10 times more grants and contracts than the national average. It’s hard to take the President’s latest push seriously when the first stimulus didn’t get the job done.
• Washington DC Received Nearly 10 Times The National Average Of Stimulus Funding Per Capita. As struggling communities throughout the country wait for more help from the $787 billion stimulus package, one region is already basking in its largess: the government-contractor nexus that is metropolitan Washington. ... Of the stimulus grants and contracts awarded so far, the District has received nearly 10 times as much per capita as the national average, and Maryland has received more per capita than much harder-hit states, among them Florida, Michigan, Nevada and Ohio. (The Washington Post, 12/3/09)
• The National Unemployment Rate Has Increased From 8.2% To 9.1% Since The Passage Of The Original $800 Billion Stimulus (BLS, Accessed 11/2/11)
• Unemployment In DC Has Increased From 8.6% To 11.1% Since The Passage Of The Original $800 Billion Stimulus (BLS, Accessed 11/2/11)