A state of recovery? Ohio edition.

July 8, 2010

In preparation for Secretary of Transportation Ray LaHood’s visit tomorrow to Ohio 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:

Ohio’s share of the $862-billion “stimulus” bill awarded: $7,556,990,000 (=3.7% of the $202 billion awarded).

Ohio’s share of the population = 3.8%

Ohio’s unemployment rate rose from 9.1% when the “stimulus” was enacted in February 2009; today it is 10.7%.

Ohio’s 10.7% unemployment rate is greater than the national average of 9.5%.

The number of employed people in Ohio fell from 5.454 million when the stimulus bill was enacted, to 5.341 million currently.  This translates to 112,914 jobs lost.

For FY2011, Ohio’s estimated budget shortfall is $3 billion.

Ohio’s number of foreclosed homes was 11,321 when the “stimulus” was enacted; today that number has fell to 10,379.

Example of “stimulus” spending:

$34 million will be going to Ohio’s John Weld Peck Federal Building in Cincinnati, which is only 46 years old, for a “window makeover.”

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