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Thursday, May 21, 2009

The Results Are In: Stimulus Bill Neither Timely Nor Targeted

The Heritage Foundation has released a new report on the so-called stimulus bill, and found that the hodge-podge of rushed government spending is not delivering the economic boost that supporters promised:
Not Timely

Government agencies have spent only a tiny fraction of money planned to be spent in fiscal years 2009 and 2010. Moreover, agencies have not allocated most of the money that has been directed toward them for any named projects.

Not Targeted

Fiscal year 2010 ends September 30, 2010, but the recession could end sooner than that. Indeed, a majority of economists surveyed in April predicted the recession will end in 2009. Fed chairman Ben Bernanke also thinks the recession will end this year. The stimulus bill threatens to miss the very target it was meant to address.

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