Academic

STIMULUS! Unemployment Unchanged By Road Projects. ?A federal spending surge of more than $20 bill?

By Glenn Reynolds

STIMULUS! Unemployment Unchanged By Road Projects. “A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama’s first stimulus has had no effect on local unemployment rates, raising questions about his argument for billions more to address an ‘urgent need to accelerate job growth.’ An Associated Press analysis of stimulus spending found that it didn’t matter if a lot of money was spent on highways or none at all: Local unemployment rates rose and fell regardless. And the stimulus spending only barely helped the beleaguered construction industry, the analysis showed.”

Full post as published by Instapundit.com on January 11, 2010 (boomark / email).