Bulk of Stimulus Spending Yet to Come

[Toro]

The Obama administration's economic-stimulus program has delivered about a third of its total $787 billion budget during its first year, much of that to maintain social services and government jobs and to provide tax cuts for workers. Now, the pace and direction of stimulus spending are about to change.

Infrastructure spending is set to step up in the second year of the stimulus program, which should mean more money flowing to private-sector employers. Still, economists say that won't likely have a big effect on the unemployment rate, which most say is likely to continue a slow decline as the broader economy recovers. ...

Most of the money allocated to specific projects hasn't been paid out yet, and there are still an additional $195 billion in tax cuts on the way.

Proponents of the stimulus program focused attention on infrastructure projects during the fight to win approval for it last year. But the bulk of the money proposed for projects like new rail lines and water projects—about $180 billion in all—is likely to be spent this year at the earliest. During year one of the stimulus, only about $20 billion of money was handed out for infrastructure projects. ...

Government data indicate that most of the jobs supported by stimulus spending belonged to public employees at the state and local level, including about 325,000 teachers and school staff.

Subsidizing those jobs avoided layoffs, or state and local tax increases that could have further undermined the economy. But they didn't result in substantial hiring of people who had lost private-sector jobs.

State officials already are warning that job cuts could be in the offing in 2011 once the stimulus money runs out.

Of the $179 billion in stimulus funds paid out last year, $112 billion has gone out in the form of large checks to state governments to plug holes in school, Medicaid and unemployment-benefits budgets, or to increase funding for established programs, such as food stamps, according to a Wall Street Journal analysis.

An additional $700 million was spent on administration, and about $47 billion has left Washington in transfer payments, such as $250 checks for Social Security recipients. Social spending totaling $70 billion is also in the pipeline already, including grants for local organizations carrying out jobs-training programs.

Bulk of Stimulus Spending Still to Come - WSJ.com

 

[Oddball]

Stimulus schmimulus...It's been a political vote buying slush fund all along.

 

[Neubarth]

ALL YOU REALLY NEED TO KNOW. LOOK TOMORROW morning.

 

[hvactec]

Thank Paulson & Geithner these two clown's, Secretary of Treasury of the United States Of America, What A JOKE!
These two ediots Bailed out the Bankster thug's and other big time Criminals, Thank Them.
Now We have more Unemployed more people losing there homes and Unemployment will run out in june of 2010, so we will have millions more on food stamps as these greedy bankster bastards refuse to give americans loan with the american taxpayers trillions they were bailed out with. Thank you Mr Timy Geithner & Mr Paulson for SCREWING the american people after robbing them. these to should be in a JAIL.