Stimulus Amnesia

The Providence Business News reported last week that Rhode Island has $281 million in shovel-ready road projects and is just waiting for an influx of stimulus funds to get going. Wait a second. Didn’t we have exactly the same discussion about six months ago, after the $787 billion economic stimulus program was approved?? What ever happened to all that money? Well, as this breakdown shows, only a fraction of it, or $98.3 billion, went to transportation and infrastructure projects while much of the rest went to various welfare programs, education, and aid to state and local governments (for a pie-chart of all this click here). For more analysis on how much of the economic stimulus package actually deserved that label, read this Wall Street Journal editorial.

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