Maybe some folks just don't like good news.
How else to explain the curious arrangement of stories in today's Wall Street Journal. One article proclaims the CBO essentially validating the Obama Administration's stimulus jobs numbers. Another laments "Job cuts loom as stimulus fades."
Guess which piece made Page One.
While the Journal is decrying the absence of a "paving fairy," this Department of Transportation is still funding road projects at an unheard-of pace.
We have over 5,400 road projects underway, and we're not even close to stopping. We're projecting to get over the 10,000 mark, which means that we've got much more to come. It’s hardly the last rays of sunshine that the Journal's readers were offered.
Here are a few examples that belie the Journal's doom-and-gloom scenario:
- In New Orleans, work on the stimulus-supported $87 million I-10 Causeway project will continue through the summer of 2012.
- In San Francisco, the Caldecott Tunnel--at $257 million, one of the largest ARRA-funded road projects in the country--isn't even set to start construction until early January.
- In Clearwater, Florida, a $123 million project that uses $44.2 million in Recovery Act funds to create 12 miles of uninterrupted travel on US 19/SR 55 also doesn't even break ground until this Friday.
- Plus, of the $48.1 billion in stimulus funds available, we have obligated $31.8 billion. By my calculation, the $16.3 billion remaining buys a lot of road, transit, rail, and port work.
As Vice-President Biden said, in response to the CBO report:
"This early progress less than halfway through the program is encouraging, but we’re just getting started. In the coming months, we’ll break ground on thousands of infrastructure projects."
With the Recovery money, this Administration has helped put America back to work and begun to lay a foundation for long-term economic growth. We're not even close to quitting.
Economic stimulus from the Recovery Act is not yet done, not by a long shot.