Another Stimulus Boondoggle: $4.7 Billion in Broadband Spending Yields … Absolutely Nothing
If you want to understand how comprehensively the Obama Administration has failed the nation, you need only begin with this point: as the president approaches the end of his first term, we’re still unearthing lurid details about his first major policy initiative, undertaken in his earliest days in office.
That plan, of course, was the $787 billion stimulus package that was supposed to kickstart economic growth (it didn’t) and keep unemployment under 8 percent (it’s never been that low in the nearly three years since the package was enacted).
Last week, I wrote about the case of a Maryland PR firm that got paid nearly a million dollars in stimulus money by the National Institutes of Health to promote how well the National Institutes of Health was spending stimulus money.
This week’s second verse of the same song is orders of magnitude worse; the dollar amount is in the billions and the outcome wasn’t just wasteful — it was non-existent. According to the Daily Caller:
As of the third quarter of 2011, no projects from the federal government’s Broadband Technology Opportunities Program (BTOP) — a technology stimulus program funded by the American Recovery and Reinvestment Act of 2009 (ARRA) — have been completed…
The funds awarded for BTOP totaled over $4 billion, and the average award was $6,217,509, according to Recovery.gov.
Three years. Over $4 Billion. Zero results. This project may not have stimulated any growth in the broadband sector, but it’s certainly going to keep some Republican opposition researchers employed.
CFIF on Twitter
CFIF on YouTube