The Stimulus Package: Where Did All the Money Go?

Has the American Recovery & Reinvestment Act of 2009 — better known as the stimulus package, been a success? The answer, like so many others in Washington D.C. these days, has become political. Ever since the U.S. economy imploded two years ago, some 8 million American jobs have vanished.

Among the legions of clobbered companies across the land is New Bedford Panoramex, a 49-year-old airport lighting manufacturer. In the beginning months of the recession, owner Steven Ozuna was dreadfully positive that 15 of his 50 employees would soon be unemployed. Then, just weeks after President Obama signed into law the historic stimulus bill in February of 2009, Mr. Ozuna got an unexpected phone
call. It was an official with the Federal Aviation Administration.

He asked if Mr. Ozuna’s company could take a $3 million stimulus-funded contract manufacturing and installing new runway lighting systems at about a dozen airports around the country. Given how the company typically takes in about $8 million a year, it was a huge shot in the arm.

“They said ‘When can you start?’” Mr. Ozuna remembers, speaking by phone to Hispanic Business magazine. “I said, ‘We can start yesterday.’” All 15 jobs were saved and the highly skilled employees are still working — for now.

The American Recovery & Reinvestment Act of 2009 — better known as the stimulus package — has been a historic effort to save the economy from utter catastrophe. The $787 billion package is enormously far reaching and complex, but broadly speaking breaks down into two categories: Tax breaks, which constitute about a third of the total amount, and expenditures — namely on transportation, schools, infrastructure, health care, housing and energy efficiency — which make up the balance. READ FULL ARTICLE
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