- Less than 10% of the available recovery funding for infrastructure projects has been paid out.
- I guess in a way it is good news since the economy has not felt the benefit of this stimulus.
- The DOI has spent less than 3% of their stimulus funding.
I hope that someone reading this can provide a better explanation of what I am seeing at the Recovery website. It appears to me that if you subtract out the funds allocated by Education, Health and Human Services, Labor and Social Security, none of which I would consider infrastructure spending related, that the remaining Federal agencies have paid out a total of $4.2 Billion dollars to date. This represents less than 10% of the money available to these agencies.
Someone please tell me I am wrong about this. Am I the only one who is checking on the status of this so-called stimulus funding program? Take the Army Corps for example. They have spent $43 billion out of $380 B. The Department of the Interior has spent $3 billion out of $93 B – that’s less than 3%. Maybe there are a lot invoices out there waiting to be paid, but somehow I doubt it.
I suppose one can look at it as a positive in that all of this money is yet to be spent. Tell that to the firms who could be doing the work, and to the people that they could be employing. I know about a couple of procurements that have been delayed for months.
I would recommend that everyone contact a statewide newspaper where they live and make them aware of this. This is unbelievable, and don’t tell me it takes time to get these projects going. They were supposed to be shovel ready.