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More Than $125 Billion In Stimulus Funds Still Not Paid Out

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posted on Aug, 5 2011 @ 07:14 AM
Here we are nearly 3 years after the passing of the American Recovery and Reinvestment Act ($787 Billion) and there is still $125 Billion unspent. Since the bills passing, Wall Street is tanking, unemployment figures continue to rise, we learned that Obama wasn't serious about "shovel ready projects" because "they don't exist" and Obama just received a $2.4 trillion Birthday Gift.

Billions of dollars in stimulus funds have not been paid out, according to a government Web site that tracks the $787 billion approved by Congress to fund the American Recovery and Reinvestment Act of 2009.

The distribution of those funds is detailed in the “Overview of Funding” section of the Web site.

The data, said to be valid as of July 22, shows that a total of $125.8 billion remains to be distributed in three categories of funding.

In the tax benefits category, $259.9 billion of the $288 billion allotted has been paid out, leaving 28.1 billion unpaid. In the contracts, grants and loan category, of the $275 billion allotted, $217.5 billion has been paid out, leaving $60.5 billion remaining. Under entitlements, $224 billion has been paid out, with $37.2 billion yet to be distributed.

The Web says one the stated goals of the stimulus is to “create new jobs and save existing ones.” Almost three years after the act was passed, however, the national unemployment rate as reported by the Bureau of Labor Statistics stood at 9.2 percent in June – up from the 8.2 unemployment rate recorded in February 2009, the month the stimulus bill became law[EB595CCA-D93F-48F4-AF96-11E2D41DE73D]&xsl=FundingOverview/FundingOverviewChartTextView.xsl

posted on Aug, 5 2011 @ 07:20 AM
Part of the problem is that we have governors like New Jersey's Chris Christie (
) who are cancelling projects that the stimulus money was supposed to go to.

edit on 5-8-2011 by Junkheap because: (no reason given)

posted on Aug, 5 2011 @ 07:29 AM
reply to post by Junkheap

Here is great map if you want to look deeper into New Jersey or any other state. According to this NJ has received $5.5 billion. I assume the money was spent because they attach job figures to the dollars. Granted this is a govt. website so it could all just be BS anyway

You can zoom in click the dots and actually see who received the funds

posted on Aug, 5 2011 @ 01:00 PM
125 billion left from the stimulus eh i can see where obama and the congress get their first 100 billion a year of "cuts" from that bil they just signed.

save or created? thats nonsense nevermind he saved and created more government jobs that private sector.

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