By Christopher Flavelle/Courtesy of ProPublica
The American Recovery and Reinvestment Act celebrated its six-month anniversary this week, and supporters and detractors alike lined up to offer their verdicts. “The Recovery Act is already paying dividends for workers, families, and small businesses,” said Democratic House Speaker Nancy Pelosi. “By any objective standard, the Democrats’ trillion-dollar ‘stimulus’ isn’t working,” countered House Republican Leader John Boehner.
Well, which is it – resounding success or colossal failure? It’s too soon to tell, of course. Unemployment could keep falling, or climb again. Growth, if it comes, could be tepid. And as more money starts to flow in the fall and spring, inflation could spike – or not. Moreover, we’ll never know for sure what would have happened without the stimulus – or with a different mix of spending and tax cuts.
But there is much we do know. ProPublica looks back at six months of stimulus coverage and finds a mixed record on three key aspects of the package: how wisely the money has been spent; how many jobs have been created (and whether we’ll ever know for certain); and how well the government has met its own pledge of transparency.
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Posted on August 21, 2009