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Michael great Willis here with us today reporter -- well public to talk about -- -- -- anniversary birthday celebration of Recovery Act.
Yes -- -- worked didn't work.
Let -- give it all depends on what you expected the stimulus package to be if you expect it to be sort of you create a lot of new jobs and look if you like the WPA.
Now from the new deal that's not really what we've got if you expected it to may be you know save save some teacher jobs.
Make things a little bit less uncomfortable.
For people who have been -- by the recession.
And then lay the ground work for.
For of the Obama -- the Obama administration's economic agenda I think -- -- gotten the first year.
-- now -- its -- because it was such a big number 800 billion dollars essentially.
That the administration had to make.
Lavish promises to sell about it in the short term because I think that's what politics says.
My understanding that they upset anybody -- wanna push the misery on till you the next month or next you're the next administration.
You -- sort of what they did because of the promises almost became I'm capable when they were.
-- -- of accommodation because they did say would create job -- -- create jobs immediately in overtime it's changed from saved.
Jobs to find a job and supporting jobs but the same time they did call it a recovery and reinvestment act getting caught stimulus package.
So it's doing more of that recovering.
It and reinvesting with a split with some of the goals of high speed rail and new energy.
They did say 8% unemployment they say with a B we keep it -- 8% and they were wrong about that and wrong in a big way so the -- I think the American people say.
-- know what you gonna be right about anything because right now we haven't we haven't seen it yet.
Yeah I think they'd they'd definitely.
You know they under sold the meat of the stimulus package and talking about unemployment was going -- it.
Peak at 8% but also oversold the speed saying if that's going to be something you see immediately and a lot of it has been invisible a lot of the biggest effects that we've seen.
You really haven't -- -- and you recently did some of first of all the old jobs number that.
I don't I can quantify that this notion of -- -- you know.
It is chris' job -- today because he's so miserable one thing about the -- might be easily around we saved you seventeen become one of the numbers now.
But better -- let's just.
-- thought about investigations now going on I mean there.
It's -- we don't know where this money's going this could turn out to be a political disaster.
Right and you haven't seen a lot of that yet and so.
That the vice president had he -- it has set an asset in his report today that.
You know he surprised how much -- public esteem if you talk to investigators -- -- -- -- who's head of the stimulus oversight board for the government.
You know he said yeah I'd ask them -- what you know give me a list of all the prosecutions and a half and he said well criminal investigations take.
Year two years fraud is very complicated stuff he had a whistle blower come forward he needs somebody to unravel it.
There's a lot of stuff that they are looking at.
But a lot of it hasn't become public yet.
One thing that we try to do have -- public trying get a handle on that if -- put together a list of all of the inspector general reports that have come out.
He put together all the time that newspaper done investigations.
Looking at contractors who got money who maybe have had problems in the past or maybe even the government has said.
We're investigating them right now we don't think it should be getting money somebody else the government has been giving them immunity fleet but building to that so that people could check it out and it's that.
You made the list and -- -- great in big numbers of just unknowns.
Yeah what you know one story we did recently was.
About thirty million dollars in defense contracts going to a group of companies who right now the Defense Department is investigating.
-- A business a program designed to help minority small businesses get government contracts these folks to know.
May or may not have qualified and that's what the Defense Department investigate.
-- we're at the point right now where we're a year and there's a lot of argument as to how many jobs it is saved created what have you how much of it has actually been spent how much more needs to be spent.
I mean and from what you've seen out there.
Mom but is there is there.
Is there a place for jobs are gonna come from are we gonna see this actually have a much greater impact two years in than one year do you think.
Yet this is -- one of the most interesting things I think about -- -- this package is there's a huge disconnect between what the administration is saying yes and wide the public is C.
And but that -- the reason -- that is because much of it affects -- Packers have been invisible if you look at the spending so far to about 300 billion dollars.
But about 200 billion of that is in tax cuts and any safety net programs like Medicaid.
And unemployment insurance those things do eventually create jobs -- directly but it's harder for the public to see the direct impact.
In the second year of the stimulus package going to see more of the infrastructure projects happening.
Wanted to see sort of a long term things like high speed rail broad -- get going yet and that's where the administration says the private sector.
Employee and is gonna become visible.
There's not I mean you know you go to a site like recovery dot gov which -- check out all the time with the money that's actually been received by the states and municipalities if and we're talking maybe fifty billion dollars of -- all that's not a lot of money where is this money.
I'm a lot of it is in tax cuts we all got.
You know 400 dollars extra -- -- that is awarded re not much break.
Awarded -- -- imported -- not getting -- Manning out right right so there's a few things that are that are causing this kind of slow spending in certain areas.
You know in think we have all these things happen first for -- government right we have.
-- try to get competitive bidding we try to make sure there's no pollution it all on the environment regulations are followed the state and local areas have historic regulations.
And all of these things take time there's thousand applications I have to go to restore review process.
Before you can make a home more energy assistance.
In addition of that.
With the stimulus package there was.
New rules refer prevailing wage laws that were put into it and there's a buy American clause yeah that's created some complications.
These folks were trying to decide the money have to figure out what wage we pay these people we've never had to.
Think about this -- Affluent generally yes there's a lot of government red tape when you when the government tries to spend money it's very difficult for them to spend money by president -- Senator McCain and I might look at the -- thanks for coming library and I I -- -- from pro public getting as of -- -- -- some of the simply defrauded that is out there involved in this stimulus one year in its price setting that we set a precedent it pretty woman seen instances I have this morning -- -- I -- I would.
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