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W. David Gardner
June 5, 2009
1 Min Read
After studying the Obama administration's stimulus package objectives, government market researcher Input has found some similarities that would ring a familiar bell with the average American -- it's easy to spend money, but it's not so easy to use money effectively.
In issuing a "report card" on the economic stimulus, Input gave the program a high mark of B+ for "speed of spending." Other categories scored lower, however.
"The federal government demonstrated uncharacteristic adeptness in dispensing a tremendous amount of money in a very short time," Input CEO Timothy Dowd said in a statement. "But what happens after the funds are distributed is where the administration struggles and where Input's report card offers subpar grades. Federal, state, and local government agencies across our country are confused by the regulations and require greater guidance on how to best comply with reporting requirements."
In developing its report card, Input analyzed Vice President Joe Biden's first Quarterly Report to the President on Implementing the American Recovery and Reinvestment Act of 2009, as well as various financial reports submitted by federal agencies by May 22. Input said the pace of spending indicates the government will spend $294.1 billion by the end of September 2010 -- somewhat short of its goal of spending $350 billion by then. That rate caused Input to award a B+ grade for speed of spending.
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