Marathon Pundit: Philly fury: Just one $1 million spent in stimulus funds, only 52 jobs saved, none created

Wednesday, October 28, 2009

Philly fury: Just one $1 million spent in stimulus funds, only 52 jobs saved, none created

Philadelphia has one thing going for it, the Phillies are in the World Series, although a possible transit strike might put a damper on the Fall Classic.

But the Philadelphia Daily News is reporting this morning that of the massive $787 billion ~~economic stimulus bill~~ boondoogle, just $1 million of the $157 million pledged to the City of Brotherly Love has been spent. And only 52 jobs have been saved--none created.

Philly's unemployment rate is 10.7 percent.

From the Daily News:

Meanwhile, Mayor Nutter yesterday traveled to Washington, where he and other members of the U.S. Conference of Mayors met with White House economic adviser Lawrence Summers. Their message? That stimulus dollars are not flowing into cities quickly enough to stem the rising tide of unemployment.

Tom Cochran, executive director of the U.S. Conference of Mayors, said that the group asked the White House for direct unemployment aid to cities.

"I would say that [the stimulus program] is a slow train and right now with the unemployment we have, it's going to take more than a slow train," Cochran said. "We need a federal express."

Much of the massive recovery bill has not been spent yet nationwide. According to a report from the Council of Economic Advisers - a White House agency charged with advising the president - only $151 billion of the package had been outlaid by the end of August. That's roughly 19 percent of the total price tag.