The Washington Examiner brings us the latest slap in the face from the Democrats. This pretty much proves what most of us have known along – that stimulus spending has nothing to do with creating jobs and everything to do with politics.
The Mercatus Center at George Mason University in Virginia is one of the nation’s most respected economic and regulatory think tanks and has a Nobel prize-winning economist on staff. The econometric analysis was done using data provided by Recovery.gov — the government website devoted to tracking the stimulus data — as well as a host of other government databases.
Additionally, Mercatus found that stimulus funds were not disbursed geographically with any special regard for low-income Americans. “We find no correlation between economic indicators and stimulus funding. Preliminary results find no statistically significant effect of unemployment, median income or mean income on stimulus funds allocation,” said the report.
The Mercatus Center analysis also found that Democratic congressional districts received on average almost double the funding of Republican congressional districts. Republican congressional districts received on average $232 million in stimulus funds while Democratic districts received $439 million on average.
And the best, or should I say worst, finding:
Finally, the Mercatus analysis shows that a majority of the funds allocated went to public rather than private entities — nearly $88 billion to $69 billion. While some of the money given to public entities may eventually filter down to the private sector, it’s much less transparent how money given to public entities is spurring economic growth and job creation.
By the time this gang is done there won’t be any private sector left. That’s their goal.
Via memeorandum
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