posted on Jan, 14 2010 @ 03:21 AM
reply to post by whatukno
It did not work for the state budgets either. California got more stimulus money then anyone and the governator is in DC looking for more money.
Washington is broke, our budget here is shy $2bn. I think there are less than 5 states which are not running deficits, the largest one being Texas,
which is running a surplus. The stimulus did not do a thing except make it look like the government was doing something.
As it relates to the bit of money that did get spent, it did little good, since the government essentially cut the margins for work so thin that
private firms can not make any money when they actually win the bids. What is happening now is that the feds allocate money for a road project of
some other kind of public work. The private firms that bid on the work are informed that its a cost +2% job. With a 2% margin the firm actually
loses money due to wear and tear on their equipment, but something is better than nothing so they bid and win the job. The margins are so slim that
shoddy work and materials are used.
In two/three years all of these public works projects funded out of stimulus money will be done over because of the poor quality going into them right
now. Consider it a gift that will keep on giving