In the first eight months of the $787 billion “stimulus” package, the government has managed to spend about $111 billion, less than half of the funds that are available. What are those dollars going to? Here are the top four federal spenders :
HHS $33 billion
Labor $28 billion
Education $21 billion
Social Security Administration $13 billion
They account for 86% of the spending to date.
I don’t think those departments have very many shovels. But let’s give them more money. After all, in the Keynesian world view, it’s all about getting money spent and getting that multiplier working. Too bad we didn’t make that first stimulus even bigger. All money well spent, right?
BTW, I wonder how the cash for clunkers program is going. Did the dealers get their money yet? Anyone know?