In preparation for Transportation Secretary LaHood’s visit today to Watertown, Wisconsin to discuss the American Recovery and Reinvestment Act (aka the “stimulus”) and Washington’s plan for the road ahead, below are some facts to consider:
Wisconsin’s share of the $862-billion “stimulus” bill awarded: $3,260,660,000
(=1.6% of the $202 billion that has already been given to states).
Wisconsin’s share of population = 1.8%
Wisconsin’s unemployment rate was 7.7% when the “stimulus” was enacted in February 2009; today it is 7.9%.
Wisconsin’s 7.9% unemployment rate is lower than the national average of 9.5%.
Wisconsin lost 82,000 jobs between February 2009 when the “stimulus” was enacted and June 2010.
For FY2011, Wisconsin’s estimated budget shortfall is $3.4 billion, as of 7/15/2010.
Wisconsin’s number of foreclosed homes was 2,986 when the “stimulus” was enacted; today the number has grown to 4,315.
Example of “stimulus” spending:
Wisconsin will receive $15.8 million in stimulus money on rarely used bridges. One rural bridge in Iowa County, which carries only about 10 cars a day, will receive $430,000. Meanwhile, over 1,200 bridges deemed in need of immediate repair will receive no stimulus funds.
Tags: American Recovery and Reinvestment Act, foreclosure rate, Government Spending, Ray LaHood, Secretary of Transportation, stimulus, stimulus spending, stimulus waste, unemployment rates
