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How Can Obama Be Taking A Stimulus Victory Lap, When We Don't Even Know Where The Money Went?

By Implode-Explode Heavy Industries

"Americans were promised the stimulus would keep unemployment under 8%. It?s now well over that. We were promised it would be targeted and pork-free. It?s been loaded with pork, corporate giveaways, union bosses? goodies, and other manners of waste. We were promised there would be no fraud, but our government now tells us it can?t even verify the eligibility of people applying for the $325 billion worth of stimulus tax provisions. We were promised there would be strict oversight, but billions of dollars apparently were allotted to congressional districts that don?t even exist. We were promised it would provide ?green jobs? for Americans, but 80% of the $2 billion they spent on alternative energy went to purchase wind turbines built in China! We were promised it would help state governments weather the recession, but states receiving the stimulus bait will be in worse fiscal shape now because local governments will be on the hook for new unfunded mandates and continuation of government programs they couldn?t afford in the first place ? as many of us governors warned state legislatures."

Full post as published by Mortgage Lender Implode-o-Meter on February 17, 2010 (boomark / email).