Unspent Stimulus?

08/09/2011 05:56 pm ET | Updated Oct 09, 2011

With talk of another recession afoot, why is President Obama hoarding stimulus money? Almost $123 billion of the original $787 billion in funding authorized two years ago still hasn't been spent.

Explanations range from the vagaries of local bidding and permit issues to uncertainty among federal officials about where the money should go.

If ever there was a time for the bully pulpit, you'd think Obama would seize it and "bully" states, localities and his own administration into putting the rest of this money to work.

PR Failure: Stimulus projects are not labeled as such. Instead, construction sites feature signs proclaiming the "Recovery and Reinvestment Act." Although the official title, this omits the label more commonly known: Stimulus. As a result untold numbers of Americans are seeing improvements in their neighborhoods with no idea that Obama's stimulus package deserves the credit.


Now on Craig's blog: A Presidential Miscue (When NOT to give an economic pep talk)