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Monday, July 13, 2009


The Union Leader reports this morning on what can only be described as the failure of the stimulus package in the Granite State:

The Office of Legislative Budget Assistant reported last week that $413.6 million made its way to the state under a list of programs that involve education, highways, environmental, health and human services, energy and law enforcement.

Deputy Attorney General Bud Fitch said last week that projections are the state will eventually see between $500 million and $750 million in stimulus funds.

Given the influx of cash with more on the way, one would expect the state would have something to show for it. Think again:

So far, a total of 50 jobs have been created by the funding, 34 of them full time.

In other words, over $400 million has been spent to create 34 full time jobs. This averages to over $12 million per job!

For those still arguing the stimulus hasn't yet had time to work, Karen Hughes, an advisor to former President Bush, quashed that argument on Sunday by quoting some of the folks trying to sell the package back in February:

Let me, let me quote you Larry Summers [Director of the National Economic Council]: "You'll see effects immediately." Christina Romer [Chair of the Council of Economic Advisors]: "We'll start adding jobs rather than losing them." House Majority leader Steny Hoyer: "There will be an immediate jolt. This will begin creating jobs immediately." And instead, we've seen a loss of 2.6 million jobs.

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