Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Much stimulus money remains unspent

|
|
 
  
Published: Aug. 14, 2010 at 11:57 AM
Advertisement

WASHINGTON, Aug. 14 (UPI) -- Billions of dollars in stimulus funding remains unspent and Americans are wondering why, a report says.

Some cities hit hardest by recession-caused unemployment have hardly touched millions of dollars in stimulus funds, The Washington Post said Saturday.

Detroit, with 14 percent unemployment, had spent just 1 percent of its nearly $9 million in stimulus funds by June 30, and Phoenix has spent even less of its $15 million, the report said.

At the end of July, almost 18 months after the stimulus was approved, more than half of $275 billion for infrastructure improvements and healthcare remains unspent, the Post said.

However, officials said the spending is on track, and that 70 percent of the stimulus money will be spent by the end of September.

"Some stuff is taking a longer time to have an impact. … the fact that we still have dollars coming online now should not be seen as a negative," John Irons of the Economic Policy Institute, said in the report.

Recommended Stories
© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Protesters, police clash at NATO summit Notable deaths of 2012 2012 Billboard Music Awards
The 137th Preakness Stakes Annual Solar eclipse occurs in U.S. Chen Guangcheng arrives in the U.S.
Additional Business News Stories
1 of 29
FORT LAUDERDALE HOSTS FLEET WEEK
View Caption
Crew members of the USS Kearsarge, Bryane Ingram, Timothy Williams, Curtilious Ingram and Yosuf Hill (l to r) prepare for shore leave shortly after docking at Port Everglades in Ft. Lauderdale, Florida on April 30, 2007. The Kearsarge and her crew will participate in Fleet Week USA as part of the McDonalds Air and Sea Show. (UPI Photo/Joe Marino-Bill Cantrell)
fark
Not really news: Woman kicked off plane. Fark: For wearing a T-shirt that said, "If I wanted the...
Mortician finds gunshot wound to the chest of a man that had been ruled to have died of natural...
Left babysitting 4-year-old while her mom, friend go to gym? Just tie her up in kitchen chair and...
Scientists pinpoint exact date of Christ's death. Resurrection still up for debate
Seriuosly, who doesn't like bears falling from trees?
The militant wing of the Salvation Army strikes again