“President Barack Obama said Monday he was ‘not satisfied’ with the pace of the economic-stimulus effort and called for cabinet members to accelerate the spending in the weeks ahead, countering criticism of his economic strategy.
“The White House offered no new details Monday on how it would speed up spending from the $787 billion stimulus package, and in many ways the administration is limited by the gradual pace set out in the law passed earlier this year. The plan calls for roughly $499 billion in new spending and $288 billion in tax relief. Administration officials have long acknowledged most of the money is set to flow out in 2010 or later.”(Wall Street Journal, Tuesday)
Stimulating the stimulus … overstimulated yet?
FEE Timely Classic:
“The Inherent Inefficiency of Government Bureaucracy” by Allan C. Brownfeld