As of today, only $158 billion of the nearly $787 billion stimulus package has been spent. [ Source
http://www.recovery.gov/Transparency/Pages/home.aspx ]

Of the $787 billion allocated for the stimulus package, more than a third of it for $288 billion was designated for tax benefits rather than job creation. That $288 billion was placed there to get one or two Republican votes. Out of the three major categories of stimulus funding, the tax benefit category is the largest and has distributed the most money thus far. According to the latest charts on the recovery.gov website,
only $57 billion has been allocated to actual contracts were work might be done in jobs might be created.
Is it any wonder, that the Recovery Act passed in February hasn't had any impact on the economy as yet? Hardly any money has been distributed to projects or to creating new jobs. The estimates given by recovery.gov about how many new jobs have been created or saved seem wildly inflated. So, how did this happen?
The first mistake was making stimulus to small. The second mistake was directing the stimulus randomly and giving into demands from the Right for more tax breaks when tax breaks were the last thing that we needed. The third and most important mistake of all seems to be the relative inability to release the funds and get things started. We are closing in on 10 months since this bill was passed and it seems as though nothing has happened. What could possibly justify this type of delay?
Countless jobs are being lost every month in the United States as we plunge ever deeper into what can only be described as an economic depression. As more people lose jobs or have concerns about job security, confidence in the economy will continue to fall and with that spending will continue to drop. This is a vicious circle which will play out shortly over the holiday shopping season. Without jobs, without money and without any clear indication of recovery or decisive action that might encourage recovery it is altogether likely that the economic downturn will only continue to feed upon itself.
The main reason that President Obama was elected last fall was due to the enormous economic crisis that we were facing. The American people understood that we were standing upon a precipice and without decisive and vigorous action disaster loomed ahead. So the country voted for change, not just Democrats but many independents and Republicans as well. But we didn't get change, so far we've gotten the same old tired arguments and policies that have been tossed around for years.
We were looking for Roosevelt and we got another Hoover.
In an economic crisis such as the one that we're currently in, only one factor matters and that's jobs.
Without significant job creation, we will be stuck in a permanent downward spiral. It's the jobs Mr. President, we needed a stimulus that was all about creating jobs and creating them right now and not just a few thousand jobs either, but millions and millions of jobs.
This economy requires at least 5 million new jobs right now.
So what types of jobs could we create, and how should we create them? First of all, instead of having a stimulus based upon a further round of tax cuts or a stimulus based solely upon the approval and execution of specific projects, why not hire people directly just like we did during the first Great Depression? Argentina used the same strategy in 2002 in the same situation for the same reasons and it worked.
The US government instead of extending unemployment benefits forever, could use those same funds and stimulus money to create a wide variety of jobs to support a myriad of critical tasks.
The following is the breakout of what types of jobs might be created:
* 1 million teachers - over the past few years countless teachers have been laid off in schools across the country as state and local governments have gone bankrupt. There is a need and this need can be fulfilled immediately.
* 1 million community service workers - similarly an entire spectrum of community services have been cut over the past few years as state and local governments budgets continue to shrink. We need more firemen, more police, more sanitation workers, etc.
* 1 million infrastructure support personnel - we can begin rebuilding roads, bridges, sewers systems, aging schools and so forth right now if we have the personnel. We do not need to go through elaborate acquisition processes for every single project. That was the way we got much of this country built in the 1930s and we can do it again.
* 1 million green economy workers - there is a need right now to make this country more energy efficient, to protect us from the onslaught of peak oil pricing and global warming consequence. We can start by making every government facility; federal, state and local more energy-efficient by installing insulation, putting in solar panels, using windmills were practical and so forth. This energy corps can also help to modernize our energy grid.
* 1 million healthcare support workers -
instead of depending on healthcare reform legislation that is doomed to either fail or be chocked full of loopholes, why not set up a system of free clinics for the people who aren't covered properly under their current insurance or have no insurance at all? These clinics would operate as nonprofits and provide primary care for the 50 to 75,000,000 Americans who aren't getting it right now.
What's listed above is a good start, but we also need a way for private industry to go from those 5 million jobs to 20 million new jobs. We have to start somewhere, though. Right now our economy is shrinking, opportunities are disappearing and the American middle class is shriveling. Our primary economic focus should become American jobs that reside in America and stay in America.
It's the jobs, Mr. Obama, the jobs.
Copyright 2009, Political Perspectives