A state of recovery? Colorado edition.
In preparation for Housing and Urban Development (HUD) Deputy Secretary Ron Sims’ visit today to Pueblo, Colorado 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:
Colorado’s share of the $862-billion “stimulus” bill awarded: $3,697,240,000
(=1.8% of the $202 billion that has already been given to states).
Colorado’s share of population = 1.6%
Colorado lost 84,600 jobs between February 2009 when the “stimulus” was enacted and June 2010.
For FY2011, Colorado’s estimated budget shortfall is $1.5 billion, as of 7/15/2010.
Example of “stimulus” spending:
Over a one year period, Colorado spent $247,000 of stimulus money on road signs to designate which construction projects were funded by the stimulus. An effort to prevent the state from posting more signs failed in late January.