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Stimulus flowing as planned, but still a long way to go |
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Written by By David Goldman, CNNMoney.com staff writer
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Tuesday, 04 August 2009 16:04 |
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The $787.2 billion stimulus plan is a lightning rod for criticism and second guessing, but love it or hate it, the massive program's funds are flowing as planned. According to Obama administration figures that date back to July 31, $240.4 billion, or more than 29%, of stimulus funds are now available for use. That's better than the roughly 25% that the Obama administration estimated for the end of July. Just $120.4 billion, or 15% of the stimulus total, has actually been paid out so far. "Available for use" means that federal agencies have set aside fund for approved stimulus projects. "Paid out," in many instances, means that federal agencies have given states or contractors the money for projects. It does not necessarily mean that the money has been spent -- most of those figures are not available. Read More
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