A Grim Example of Financial Realities

This story more or less sums up the impact of the stimulus thus far. A whole lot of pomp and taxpayer dollars with few, if any, long lasting results:

It was a success story the White House was eager to highlight: Earlier this year, President Obama attended the graduation of 25 police recruits in Columbus, Ohio, touting it as a victory for the federal stimulus package.

Without the money, the officers never would have hit the streets. They were to be laid off before their first day of patrol, victims of city budget cuts, until the stimulus money saved the class.

But the White House said the $1.2 million grant only guaranteed their jobs until the end of the year. And facing a growing deficit and a fight to pass an income tax hike, Columbus Police on Tuesday announced massive budget cuts that could mean hundreds of layoffs.

Among those who could lose their jobs if voters reject the increase: the 25 new officers who shook the president's hand.