Stimulus Spending Overstated by Obama Officials

[snowdays]

When WH officials give misleading data--it does not signal change--just same ol, same ol.


http://thecaucus.blogs.nytimes.com/2009/05/28/stimulus-spending-overstated-by-obama-officials/


May 28, 2009, 6:47 pm
Stimulus Spending Overstated by Obama Officials

By Michael Cooper

When the Obama administration issued its first quarterly report on the $787 billion stimulus package earlier this month, prompting questions about the rate of stimulus spending, it overstated how much money had been actually been spent by roughly a third.

The report said that “as of May 5, $28.5 billion had already been outlaid.’’ That figure included $11.5 billion in payments the Labor Department reported making to the unemployment trust fund. The Labor Department has now revised its figure, reporting that it has only actually paid $1.1 billion to the unemployment trust fund.

The adjustment appeared on the government’s stimulus Web site, http://www.recovery.gov, in the form of a May 21 footnote that said “Effective May 21, a Department of Labor accounting adjustment was made to reflect an $8.9 billion dollar reduction from the previously reported outlays (i.e.: paid out).” The $10.4 billion over-reported payment to the trust fund was partly offset by the department’s payments to other programs.

That would mean that the government had only actually spent between $18.1 billion and $19.6 billion of stimulus money when the quarterly report was issued...................

[dionysus]

1. i'm outraged i tell ya! outraged!!!!!11!11!!!

[asphalt.jungle]

2. great investigative piece.

all you have to do is wait for the white house to publicize corrections and then you can say you discovered something.

[SemiCharmedQuark]

12. lol

:thumbsup:

[BlooInBloo]

15. They LIED!!!!!

How'd you find out? Um, they told us.

:rofl:

[CreekDog]

23. this find was just like WMD

i mean the poster said "it's the same ol same ol" :eyes:

[Name removed]

3. Deleted message

Message removed by moderator. Click here to review the message board rules.

[snowdays]

4. Oh, big brother is on DU. Have a good day.

[Name removed]

9. Deleted message

Message removed by moderator. Click here to review the message board rules.

[PretzelWarrior]

5. do you understand anything about accounting? or economic numbers?

it is clear they will have to make end of quarter adjustments. that is common practice. So if they stated one number that was true on the books one day, they're supposed to be go back in time and revise their statement?

Come on. You're just searching. The stimulus is obviously working which is the real point of their original statement.

[HamdenRice]

25. Obama Lied! Spreadsheets Died!

:rofl:

[Phx_Dem]

6. OMG! Another negative post by snowdays? I'm shocked.

[jefferson_dem]

7. Wowie.

An accounting error. Can he recover?

[PretzelWarrior]

8. yeah. I just pointed that out above

doubt I'll get a response.

[Thrill]

10. GOTCHA! GOTCHA!

The fact that you're even getting any information is change

[FrenchieCat]

11. I don't know what to say!

Perhaps I'll try to shed a tear or something!

[Cha]

13. What is "same ol same ol" is your

incessant pissant snide snarks on President Obama on one hand and effusive glowing reports on Hillary.

The Hillary reports are fine..Obama chose well but the primaries are over and your shit is getting old.

[jenmito]

14. Right on time-another negative thread by you. n/t

[ClarkUSA]

16. At least the CBO didn't imply Pres. Obama was fudging the numbers like they did of Bubba in '99.

The Congressional Budget Office said today that President Clinton had grossly underestimated the cost of his proposal for Medicare coverage of prescription drugs.

Dan L. Crippen, director of the budget office, also told Congress that Mr. Clinton had overstated the savings that could be achieved by his proposals to redesign Medicare and encourage competition in the traditional fee-for-service program.

When Mr. Clinton unveiled his drug proposal on June 29, he said it would cost $118 billion over 10 years. The budget office says now that the cost would be $168 billion, 42 percent higher than Mr. Clinton's estimate.

The estimate of the budget office has many political ramifications. It will give Republicans a reason to support a much more limited Medicare drug benefit, as Congress is normally obliged to use the cost estimates from its own budget office.

Thank goodness "Obama officials" are so much more competent and timely about transparent self-correction than Clinton and BushCo officials! It seems you're wrong about "same ol, same ol" -- unless you were talking about yourself. :eyes:

[Adelante]

17. Gawd

Do you never get tired?

[vaberella]

18. How did this thread even get 1 vote? n/t

[jenmito]

19. 31 days 39 negative threads-and 1 positive thread about Hillary.

It's getting old. :eyes:

[geek tragedy]

20. ABC:

Another Bitter Clinger

[HamdenRice]

21. Impeach! Impeach! Impeach Obama RIGHT NOW!!1!1

He lied! Spreadsheets died!

[CreekDog]

22. YES IT'S EXACTLY JUST LIKE IT WAS IT IS EXACTLY THE SAME OLD THING

PLEASE PUBLISH THAT IT'S THE SAME OLD SAME OLD ON 1000 MORE WEBSITES.

DO IT RIGHT NOW, OR ELSE YOU ARE JUST COVERING UP FOR THE SAME OLD SAME OLD!

PLEASE, WHAT ARE YOU WAITING FOR???

YOU STILL HAVEN'T DONE IT???

WHY ARE YOU WAITING??? :wtf:

[ChimpersMcSmirkers]

24. Lolz ur report is teh fail

[Teaser]

26. This is the FAILEST post ever to FAIL on DU

FAIL

[firedupdem]

27. You disrupt poorly. n/t