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Policy

Report Assesses Stimulus Spending

by Susan R. Morrissey
February 22, 2010 | A version of this story appeared in Volume 88, Issue 8

More than half of the $787 billion appropriated by the American Recovery & Reinvestment Act of 2009 has been obligated or spent, according to a report to the President by Vice President Joseph R. Biden Jr. The report released last week on the one-year anniversary of the act also states that some 2 million jobs have been created or saved as a result of the act’s implementation. This number is based on reports by the Congressional Budget Office and the Council of Economic Advisers. Included in the vice president’s report were highlights of signature ARRA projects. Of this group, the report notes that NIH has obligated about half of its $10 billion ARRA funds but has spent only about $1 billion of it. The tagging of funds is not as far along for the Energy Department’s loan guarantee program, which is another signature program. Here, only $100 million of $4 billion has been obligated, and no money has been spent.

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