Monday, September 12, 2011

Why the Stimulus Failed

Here is a nice overview with lots of references regarding the ARRA and why it failed.


  1. As someone who audited ARRA funded projects, I can tell you that the job's estimate by recipients was completely unverified.

    Recipients were required to provide quarterly reports on the amount of ARRA funds spent and the number of jobs saved or created. We couldn't attest to the validity of jobs saved or created because it's nearly impossible to do.

    Contractors, who were the main recipients for the Corps of Engineer projects, would have most likely executed other projects with the same staff sans ARRA funding. Therefore, to say he "created or saved" jobs as a result of ARRA funding, while perhaps true at the margin, wasn't wholly correct.

  2. Can you write a post about your auditing experience? That'd be pretty interesting.

  3. Yeah, I'll try to put something together over the next several days.

    An even more interesting topic is federal workers' compensation. To land oneself on this endless oasis of tax-free compensation is the object of many a federal worker.