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Stimulus Spending
The goal of the Obama administration is to outlay 70% of the stimulus funds by the end of fiscal year 2010 (that is September 31, 2010 - the government's fiscal year starts on October 1st). To achieve this goal and still be able to maintain proper oversight over the stimulus funds, the agencies in charge of spending and disbursing the funds approved by congress, have set out a rather aggressive schedule to spend the funds (well aggressive as the government goes, and with the caveat of having to spend $787 billion dollars). Vice President Biden presented the first quarter report on the government's progress enacting the American Recovery and Reinvestment Act. Most of the funds disbursed to date are part of the stimulus support for states, unemployed workers, medicaid and education. There is significant progress in the planning and bidding for projects across most agencies, but actual spending will probably not start until the second half of the year. By the end of the first week of May approximately 22% of the stimulus funds have been allocated and 8% have been spent (this does not include tax relief funds). The table below provides a summary of the progress:
$ millions
|
Total Projected Funding |
Available Funding |
Paid Out |
% Available |
% Paid-Out |
| Category |
Direct Investment |
State & Unemployment Funds |
Total Funding |
Direct |
State & Unemployment Funds |
Total Available |
Direct |
State & Unemployment Funds |
Total
Paid-Out |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Department of Education (ED) |
$44,624 |
$53,600 |
$98,224 |
$12,471 |
$12,971 |
$25,443 |
$733 |
$244 |
$977 |
26% |
1% |
| Department of Health and Human
Services (HHS) |
$22,400 |
$110,491 |
$132,891 |
$1,706 |
$27,360 |
$29,066 |
$12 |
$16,075 |
$16,087 |
22% |
12% |
| Department of Labor (DOL) |
$4,800 |
$64,300 |
$69,100 |
$3,045 |
$12,892 |
$15,937 |
$4 |
$11,990
|
$11,993 |
23% |
17% |
| Department of
Transportation (DOT) |
$48,100 |
|
$48,100 |
$11,736 |
|
$11,736 |
$40 |
|
$40 |
24% |
0% |
| Social Security
Administration (SSA) |
$1,000 |
$6,103 |
$7,103 |
$6,103 |
|
$6,103 |
$6,083 |
|
$6,083 |
86% |
86% |
| Department of Housing and
Urban Development (HUD) |
$13,610 |
|
$13,610 |
$4,812 |
|
$4,812 |
$448 |
|
$448 |
35% |
3% |
| Department of
Energy (DOE) |
$33,573 |
|
$33,573 |
$3,876 |
|
$3,876 |
$34 |
|
$34 |
12% |
0% |
| Environmental Protection
Agency (EPA) |
$7,220 |
|
$7,220 |
$2,103 |
|
$2,103 |
$2 |
|
$2 |
29% |
0% |
| Department of
Agriculture (USDA) |
$6,115 |
|
$6,115 |
$1,827 |
|
$1,827 |
$992 |
|
$992 |
30% |
16% |
| Department of
Justice (DOJ) |
$3,990 |
|
$3,990 |
$640 |
|
$640 |
$27 |
|
$27 |
16% |
1% |
| Department of Homeland
Security (DHS) |
$4,800 |
|
$4,800 |
$352 |
|
$352 |
$0 |
|
$0 |
7% |
0% |
| Department of
Commerce (DOC) |
$7,910 |
|
$7,910 |
$334 |
|
$334 |
$63 |
|
$63 |
4% |
1% |
| Department of
Defense (DOD) |
$12,510 |
|
$12,510 |
$189 |
|
$189 |
$1 |
|
$1 |
2% |
0% |
| General Services
Administration (GSA) |
$5,850 |
|
$5,850 |
$175 |
|
$175 |
$0 |
|
$0 |
3% |
0% |
| Small Business
Administration (SBA)* |
$720 |
|
$720 |
$90 |
|
$90 |
$18 |
|
$18 |
12% |
2% |
| US Army Corps of
Engineers (USACE) |
|
|
|
$62 |
|
$62 |
$1 |
|
$1 |
|
|
| Corporation for National and
Community Service (CNCS) |
$160 |
|
$160 |
$38 |
|
$38 |
$0 |
|
$0 |
24% |
0% |
| Federal Communications
Commission (FCC) |
|
|
|
$24 |
|
$24 |
$0 |
|
$0 |
|
|
| Department of
Treasury (TREAS) |
$180 |
|
$180 |
$23 |
|
$23 |
$3 |
|
$3 |
13% |
2% |
| National Endowment for the
Arts (NEA) |
|
|
|
$20 |
|
$20 |
$0 |
|
$0 |
|
|
| Department of State (DOS) |
$562 |
|
$562 |
$19 |
|
$19 |
$0 |
|
$0 |
3% |
0% |
| Department of Veterans
Affairs (VA) |
$1,350 |
|
$1,350 |
$12 |
|
$12 |
$0 |
|
$0 |
1% |
0% |
| Smithsonian
Institution (SI) |
|
|
|
$4 |
|
$4 |
$0 |
|
$0 |
|
|
| Agency for International
Development (USAID) |
$38 |
|
$38 |
$3 |
|
$3 |
$0 |
|
$0 |
8% |
0% |
| Railroad Retirement
Board (RRB) |
|
|
|
$0 |
|
$0 |
$0 |
|
$0 |
|
|
| Department of the
Interior (DOI) |
$2,990 |
|
$2,990 |
$0 |
|
$0 |
$0 |
|
$0 |
0% |
0% |
| National Science
Foundation (NSF) |
$3,000 |
|
$3,000 |
$0 |
|
$0 |
$0 |
|
$0 |
0% |
0% |
| National
Aeronautics and Space Administration (NASA) |
$1,000 |
|
$1,000 |
$0 |
|
$0 |
$0 |
|
$0 |
0% |
0% |
| TOTAL |
$226,502 |
$234,494 |
$460,996 |
$49,665 |
$53,223 |
$102,888 |
$8,459 |
$28,309 |
$36,768 |
22% |
8% |
|
Sources: Recovery.gov, CBO Estimates, Agencies spending reports.
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