Wednesday, February 3, 2010

Press Hits 'Fuzzy Math' on Stimulus $$

The fallout continues over the news that the federal stimulus funding distributed under the American Recovery and Reinvestment Act (ARRA) has done more to create jobs in the public sector than the private sector. Despite being awarded billions of dollars in stimulus funding, the Commonwealth's unemployment rate has skyrocketed to 9.4 percent.

A pair of editorials published in today's Boston Herald and Worcester Telegram & Gazette are worth checking out. The Herald hits the Patrick Administration for engaging in the same type of "fiscal shell games" the governor often accuses his Republican critics of using, noting that, "no one can do much to assure taxpayers that the so-called stimulus program amounts to more than an effort to protect existing government jobs." Meanwhile, the Telegram & Gazette offers this message: "The administrations in Washington and state capitals across the nation need to recognize a basic reality: Government cannot create wealth by simply shifting our money from one account to another, offering a raft of phony figures to justify its own existence."