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Despite receiving more than $885 million in federal economic stimulus funds since 2009, the D.C. government — whose residents face one of the highest unemployment rates in the nation — cannot say how many jobs it actually created for those who live in the District.
Most of the money has been spent, and data suggest that overall regional job growth did occur as a result of the massive infusion of capital. But a review by The Washington Times of figures provided by D.C. officials shows that the city spent hundreds of millions of dollars without being able to demonstrate any significant improvement in the city’s jobs outlook.
If anything, the employment picture has worsened in the District. At the end of 2011, according to the U.S. Bureau of Labor Statistics, the city’s unemployment rate was 10.4 percent, ahead of only three states: Nevada (12.6 percent), California (11.1 percent) and Rhode Island (10.8 percent).
The federal government's budget deficit grew by $222.5 billion in February, the largest one-month increase in history. Economists are forecasting the deficit for the year will be the biggest imbalance on record. The Treasury Department says the February deficit surpassed the old record for any month, a $220.9 billion imbalance set in February 2010.
Pres. Obama, when he sent Congress his new budget request last month, forecast a deficit of $1.56 trillion for this year. The current deficit record holder is a $1.41 trillion deficit in 2009. In 2010, the deficit remained above $1 trillion at $1.29 trillion.
Through the first five months of this budget year, the government's revenues total $869 billion, up 8.6 percent from the same period a year ago, while government spending totals $1.51 trillion, a 4 percent increase.
Originally posted by onequestion
reply to post by xuenchen
My brother had a stimulus job for about 6 months before they laid him off again and shutdown. He worked for Sallie may, collecting debt.