Vote: Are You Still Optimistic About the Stimulus?by Tim Manni
A recent poll suggests that some Americans are losing patience with President Obama’s stimulus package. According to a Washington Post-ABC News poll, 52% of respondents feel the stimulus package will succeed in improving the economy. The latest results compare to an approval rating of 59% just two months ago:
The falloff since April cuts across partisan lines. Confidence in the package’s effectiveness has dropped from 81 percent to 73 percent among Democrats and from 32 percent to 26 percent among Republicans. Among independents, it has dropped from 56 percent to 50 percent. What was once a clearly positive assessment of the program among independents (56 to 39 percent) is now an almost even split (50 to 47 percent).
Critics have long questioned the necessity of the many “shovel ready” projects made possible by the stimulus money. Furthermore, some have also debated that by the time the effects of the recovery package take hold, the economy would have had the opportunity to recover on its own. While much of the funding has been dedicated to “green” renovations and to the improvement of public transportation systems, the most expensive projects that are currently underway have to do with upgrading the nation’s highways and bridges:
You hear a lot about the government’s desire to build a brand new “green” infrastructure in the United States.
But really, the meat of the stimulus is all about rebuilding the old, car-based infrastructure. All those high-speed rail lines and smart power grids will have to come later.
Click here to view a list of the “the biggest projects that have received money so far.”
To learn more about the “estimated breakdowns for where the money is headed–the share each sector of the economy is receiving–as well as economic forecasts about the impact the Recovery Act will have on your state in terms of jobs created and tax cuts received,” visit Recovery.gov.
For more, read “Update1 Biden: We Overestimated Stimulus’ Impact on Jobs”
(hat tip: Fundmastery)