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Obama Administration Continues 'Recovery Summer' Tour

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The following was originally posted on August 5, 2010 at BankruptingAmerica.org:

Administration officials continue “Recovery Summer” tour

Continuing the Administration’s “Recovery Summer” tour today, the President visits Chicago; Transportation Secretary Ray LaHood visits Columbus, OH; Deputy Secretary of Agriculture Kathleen Merrigan visits Fairfax County, Virginia; and Federal Highways Deputy Administrator Greg Nadeaus visits Brownsville, Texas.

In preparation for Administration officials’ travel to discuss the American Recovery and Reinvestment Act (aka the “stimulus”) and Washington’s plan for the road ahead, we take a closer look at the current economic conditions in these four states.

Illinois

Illinois’s share of the $862-billion “stimulus” bill awarded: $8,467,750,000

(=3.9% of the $219 billion that has already been given to states).

Illinois’s share of the population = 4.2%

Illinois’s unemployment rate was 8.7% when the “stimulus” was enacted in February 2009; today it is 10.4%.

Illinois’s 10.4% unemployment rate is higher than the national average of 9.5%.

Illinois lost 155,000 jobs between February 2009 when the “stimulus” was enacted and June 2010.

For FY2011, Illinois’s estimated budget shortfall is $13.5 billion, as of 7/15/2010.

Illinois’s number of foreclosed homes was 14,218 when the “stimulus” was enacted; today that number has grown to 14,732.

Example of “stimulus” spending:

Northwestern University received $712,883 to develop a model of machine-generated humor.  The project will “create intelligent comedic performance agents and deploy them both on- and off-line for the enjoyment and illumination of everyday citizens.”

Ohio

Ohio’s share of the $862-billion “stimulus” bill awarded: $7,874,070,000

(=3.6% of the $219 billion that has already been given to states).

Ohio’s share of the population = 3.8%

Ohio’s unemployment rate was 9.1% when the “stimulus” was enacted in February 2009; today it is 10.5%.

Ohio’s 10.5% unemployment rate is higher than the national average of 9.5%.

Ohio lost 131,500 jobs between February 2009 when the “stimulus” was enacted and June 2010.

For FY2011, Ohio’s estimated budget shortfall is $3 billion, as of 7/15/2010.

Ohio’s number of foreclosed homes was 11,321 when the “stimulus” was enacted; today that number has fallen to 10,639.

Example of “stimulus” spending:

$34 million will be going to Ohio’s John Weld Peck Federal Building in Cincinnati, which is only 46 years old, for a “window makeover.”

Virginia

Virginia’s share of the $862-billion “stimulus” bill awarded: $5,425,020,000

(=2.5% of the $219 billion that has already been given to states).

Virginia’s share of the population = 2.6%

Virginia’s unemployment rate was 6.1% when the “stimulus” was enacted in February 2009; today it is 7.0%.

Virginia’s 7.0% unemployment rate is lower than the national average of 9.5%.

Virginia lost 39,500 jobs between February 2009 when the “stimulus” was enacted and June 2010.

For FY2011, Virginia’s estimated budget shortfall is $1.3 billion, as of 7/15/2010.

Virginia’s number of foreclosed homes was 4,823 when the “stimulus” was enacted; today that number has grown to 5,855.

Examples of “stimulus” spending:

$80,000 of stimulus funds financed a pedestrian bridge to nowhere in West Virginia.

$51 million was allocated to the Poff Federal building in Roanoke, Virginia for ‘green’ adjustments, such as new windows and lighting.

Texas

Texas’s share of the $862-billion “stimulus” bill awarded: $14,307,390,000

(=6.5% of the $219 billion that has already been given to states).

Texas’s share of population = 8.1%

Texas’s unemployment rate was 6.8% when the “stimulus” was enacted in February 2009; today it is 8.2%.

Texas’s 8.2% unemployment rate is lower than the national average of 9.5%.

Texas lost 57,700 jobs between February 2009 when the “stimulus” was enacted and June 2010.

For FY2011, Texas’s estimated budget shortfall is $4.6 billion, as of 7/15/2010.

Texas’s number of foreclosed homes was 10,527 when the “stimulus” was enacted; today that number has grown to 12,175.

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