The Stimulus Spin
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SUPERB REPORTING BY THE SANTA FE REPORTER
This is about the best reporting on the federal stimulus in New Mexico we’ve seen. We were working on a similar story called “Stimulus Dreams, having reviewed the same thousands of documents in the files of the New Mexico Office of Recovery and Reinvestment. But the Santa Fe Reporter beat us to it. Our compliments to reporter Corey Pein. We can’t do any better than link to his report. Read it all to see what the stimulus spin is all about.
A highlight: Despite all the lights and cameras around $3 billion coming into the state, a year after passage of the American Reinvestment and Recovery Act of 2009, “not counting government jobs ‘retained,’ and not counting temporary work, it seem’s Santa Fe’s share of the stimulus has successfully created only two new permanent, private sector jobs–jobs reporting to a company headquartered in Colorado Springs.”
We are still going to publish our report. But first read the Santa Fe Reporter’s excellent story for the big picture.
Posted under News.
Tags: ARRA, New Mexico Office of Recovery and Reinvestment, stimulus
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Stimulus Creates Few New Jobs In NM
[...] Just over 61% of jobs funded with federal stimulus funds are in state or local government. A May 4, 2010, press release from the New Mexico Office of Recovery and Reinvestment claims 3,009 jobs full-time jobs funded. 2,271 of those jobs were in public education. A study by the Santa Fe Reporter found that federal stimulus money created only 2 private sector job… [...]
4:24 am on April 8th, 2010
Despite the Tea Party’s hope that the economy crumbles under Obama, there are actually signs that it is improving. Job losses continued to slow under Obama (the Bush recession is nearing an end in an economic sense, but the damages will be felt for years) and now the economy is experience job growth.
http://obama.3cdn.net/d9d98835a020fb2394_6bm6bx3yb.pdf
It’s almost as if something changes last January to help prod the economy back to where it was under Clinton (where he had to rescue the economy from a previous Bush recession).
At this time in Reagan’s presidency, unemployment was still rising before peaking at 10.8 at the end of Reagan’s second year as President.
And the Reagan/H.W. Bush economic policies of deregulation, accelerated by W. Bush, resulted in an economy that could have been even worse than that if something had not been done by Obama.
The only good thing from this down economy looks like financial regulation will be put back in place to prevent the corporatists, like the funders of CATO, the Sam Adams Institute and Koch Industries, from driving the country to ruin in the sake of making money for the top-percenters.
1:31 pm on April 23rd, 2010
The link above no longer works, the story is now located at:
http://www.sfreporter.com/santafe/article-5326-the-stimulus-spin.html
2:45 pm on April 23rd, 2010
Fixed. Thanks.