A state of recovery? Maryland edition.

July 15, 2010

In preparation for Executive Director of the White House Council on Automotive Communities and Workers Ed Montgomery’s visit today to General Motors in White Marsh, Maryland 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:

Maryland’s share of the $862-billion “stimulus” bill awarded: $4,334,180,000
(=2.1% of the $202 billion that has already been given to states).

Maryland’s share of the population = 1.9%

Maryland’s unemployment rate was 6.4% when the “stimulus” was enacted in February 2009; today it is 7.2%.

Maryland’s 7.2% unemployment rate is lower than the national average of 9.5%.

The number of employed people in the Maryland fell from 2.818 million when the “stimulus” was enacted, to 2.754 million currently. This translates to 63,252 jobs lost.

For FY2011, Maryland will face a $2.0 billion budget shortfall.

Maryland’s number of foreclosed homes was 3,176 when the “stimulus” was enacted; today that number is has grown to 6,304.

Examples of “stimulus” spending:

$30,000 of “stimulus” funds will be granted to University of Maryland researchers to study the effects of methamphetamine on the sex drives of female rats.

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