It was serious, though I'll specify further I was referring in particular to the CDS clause. If you believe there's so much information it should be easy to quickly support the the unqualified assertion that
- about a complex subject.
Well please explain then what the endless refrain of 'shovel ready' meant.
The recovery spending is not anywhere close to one-third of the $787B budgeted in the Act, spending is currently less than 10% of the total. Less than one-quarter
has any chance of being spent by the end of the year. The transportation spending in particular so far is only ~2% of the transportation allocation
One of the fundamental problems with stimulus spending as Keynes warned, and for which much criticism was levelled at the Recovery Act during debate: government does not get the spending out fast enough, accurately enough:
Not would be, did, and with good reason. That's an inherent flaw of recession stimulus spending as was pointed out at the time. They certainly did rush out the Act with no more than a couple weeks of debate. Some part of that is unavoidable - at least the 2009 spending has to have been legislated quickly. The whole point (flawed in my view but many economists support it) is to get the money out fast, which requires ill-considered action in haste, and then government machinery is still to slow.
Anyway, no need to query the Republicans, the $787B stimulus package so far has not worked
as the Obama administration said it would
: Figure 1