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Friday, November 20, 2009

GAO Takes Stock Of Recovery.gov Stimulus Glitches


The Government Accountability Office released a report (PDF) today criticizing the quality of the data used to calculate how many jobs have been generated by the stimulus.


Welcome to the club, GAO. Here are some of the highlights:
Nearly 4,000 reports filed by recipients of stimulus money showed no dollar amount received. Yet those same reports claimed to have created or saved more than 50,000 jobs.


Some 9,200 reports showed no jobs, even though they spent a total of almost $1 billion in stimulus money.


Nearly one in 10 stimulus recipients failed to file reports.


Almost one quarter of reports from primary stimulus recipients were not reviewed by a federal agency.


Recipients used different formulas to calculate how many jobs they had created or saved.
Read more…

2 comments:

  1. The Feds gave a bunch of our great great great grandchildren's (not yet born) money to the banks.

    The banks invested it in the stock market (because loaning it doesn't pay as well, as investing it - especially when you know in advance how the market will move up and down, up and down).

    The stock market has moved up! The banks have made tremendous "profits". Now they will pay back the "stimulus" so they won't fall under Federal Government control (The Banks control the Federal Government).

    So there we have it. Stimulus money was spent. Banks invested it. The stock market rose up dramatically. The banks make a profit. Big corporations trading on the stock market make profits.

    No need for jobs.

    The rich people are quite happy about these results.

    ReplyDelete
  2. Stimulus is a joke, the 'reporting' is a joke, Obama is a joke.

    ReplyDelete

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