In his first quarterly report on implementing the stimulus, Vice President Joe Biden said Wednesday that the recovery program is “ahead of schedule in most programs and, due to efficiencies and sound management, many projects are coming in under budget.”
Although some state and local governments want speedier spending, Biden said in the 21-page report: “We set a goal of outlaying 70 percent of Recovery Act expenditures by the end of 2010; after just three months, we have already obligated more than $88 billion.”
A release from Biden’s office says that in the first 77 days of the two-year program (through May 5), “150,000 jobs have been created or saved. ... Over 3,000 transportation construction projects have been funded in 52 states and territories. ... Thirteen states have qualified for State Fiscal Stabilization Funds to improve education programs and save education-related jobs.”
The report calculates that an average of $1.1 billion in new spending has been obligated each day since the bill was signed. The administration promises that “both the pace of spending and job creation [are] expected to accelerate significantly in the coming months.” - Politico Story
It's a good thing they are ahead of schedule and it is working so good. Could you imagine the mess if it sucked? I don't see where it is helping.
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