Stimulus spending slows

That boondoggle known as the stimulus bill can't even spend money. USA Today explains:

The government handed out stimulus money far more slowly this summer than it had in the first weeks after the massive economic recovery plan started, even though President Obama and other members of his administration had vowed to hasten that aid.

Facing criticism from some economists that the stimulus was not moving quickly enough, Obama told his Cabinet in June that he was "not satisfied" with the speed with the government distributing more than $500 billion, and that his administration was "in a position to really accelerate."

But in the months that followed, even though more construction projects began, the pace of new spending dropped.

In the 101 days after Obama signed the stimulus package in mid-February, the government allocated an average of more than $1.3 billion a day to new grants and projects. Since then, that pace has fallen to an average of about $1 billion a day, a drop of about 25%, according to federal agencies' financial reports, current through Sept. 4.

Un-stimulating.

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