Despite Obama’s Repeated Claims That Enacting $787-Billion Stimulus Was Urgent, 78 Percent of Money Remained Unspent by End of Fiscal 2009 Says Federa

(CNSNews.com) - After his election last November and until the $787-billion American Recovery and Reinvestment Act was passed in February, President Barack Obama repeatedly insisted that it was urgent for Congress to enact his economic “recovery” bill immediately. Yet, by the end of fiscal 2009 fully 78 percent of the federal spending authorized by that bill had not yet taken place, according to the Government Accountability Office.

In the meantime, the national unemployment rate climbed 26 percent, from 8.1 percent in February to 10.2 percent in October.