Why “stimulus” is a bad word

An article in today’s Orlando Sentinel provides a graphic demonstration of why the American public is fed up with Washington’s “solution” to this country’s economic woes.

The story describes a $3.2 billion segment of Congress’s 2009 Recovery Act, a/k/a, the “Stimulus” bill.  These funds are to be used to provide energy conservation grants to the states.  So far, approximately 8.4% of these funds have been expended, or, $268 million.

What do we have show show for that money, you ask?  Well, nation-wide, the program has created 2,265 jobs according to Gregory Friedman, Inspector General of the U.S. Energy Department.  That is approximately one job per grant.  Looking at these statistics from another point of view, we have spent approximately $120,000 per job created.

Assuming the program continues along the same lines, when we have finally spent the total $3.2 billion (that we do not have), we will have created a grand total of approximately 27,500 jobs.  Compare that, for example, to last week’s first time claims for unemployment of 472,000.

Looking at the state of Florida, $168 million will be awarded under this program.  And, Florida just began spending $15 million for rebates to homeowners who replace their inefficient heating and cooling systems.  In a state with an 11.5% unemployment rate as of July, not too many are cheering.

Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida,

calls it ‘the audacity of scope’ — a tendency by the president and Democrats in Congress to confront many problems at once rather than focus on the economy and jobs.  ‘The stimulus in a lot of ways was a political platform being pushed through Congress,…there will be some stimulative effect from buying air conditioners,…but it doesn’t do much on the job side of things.

No it doesn’t Mr. Snaith, and that’s why Americans are growing tired with, and angry at, this administration’s economic philosophy.

And, while you are checking out the Orlando Sentinel article, make sure you take note of one (of many) nifty new solar trash compactors at Orlando bus stops that you are helping to pay for.  Thank you America.