Why did the stimulus bill not create jobs?


Half of the 2009 stimulus spending is attributable to two programs: $32 billion for Medicaid, and $22 billion in payments for unemployment insurance. A one-time payment to Social Security beneficiaries added another $13 billion; spending for financial assistance to states (from the new State Stabilization Fund) added $12 billion; and other direct assistance to college students (mostly for Pell grants) added $7 billion. Together, those five programs account for almost 80 percent of stimulus spending in fiscal year 2009.

ARRA Spending for 2009 Close to CBO’s Estimate
Douglas Elmendorf
Tue, 03 Nov 2009 00:14:29 GMT