Thursday, May 28, 2009

How is that stimulus money stimulating?

From Jake Tapper, the only journalist on the POTUS beat willing to say the emperor has no clothes......
The Obama administration on Wednesday issued a booklet heralding the accomplishments of the $787 billion stimulus act 100 days after it was signed into law.

Without question the book lists many projects that are having an impact of one way or another on the economy.

But the first one of the projects featured in "100 Days, 100 Projects" doesn't seem to withstand the scrutiny of its description.

The project is described by the Obama administration this way:

"Using $27 million of Recovery Act funding, a public housing development in Washington, D.C., the Regency House, has undergone a green retrofit. As part of this upgrade, the building installed solar panels, a 'green' roof, a rainwater collection system, energy-efficient lighting as well as water conserving toilets, showerheads, and faucets. The greening of this building will allow the Regency House to save money in energy costs, while lessening their impact on the environment."

In reality, the work done on the Regency House that was funded by the stimulus package amounted to $59,000 in parts and labor, according to Dena Michaelson, director of public affairs for the Washington DC Housing Authority.

The $27 million is the total amount given by the stimulus act to the Washington DC Housing Authority, the vast majority of which hasn't been spent.

More....

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