skeptical Peter, and you are not alone. Poll numbers show a lot of Americans
are as well. I wrote about that in
my blog on Monday.
I think the
question with the stimulus from the very beginning was how much of it was aimed
at ending the recession and how much was aimed at future growth. Congressmen
argued on both sides of that debate, but many were concerned there was not
enough "short-term stimulus" in the plan. Up where you live in Suffolk County
there has been very little spent from the highway stimulus so far (no dollars
when you look at funds targeted to the county), so in that sense you are right.
When everything is said and done Suffolk is set to gather about $75 per capita
the map) so that will be some money headed your way.
that money help future economic growth there? Without seeing the projects it's
impossible to say. Will they help the local economy in the short-term?
Probably. Dropping $54 million into a community will have some impact.
Construction crews get money, they get work, they hire. But they also spend the
money they have made. They buy lunch and dinner. They go out with the crew
after work for drinks. Will it be enough there? That's the real question. The
unemployment rate in Suffolk, a wealthy Monied Burb, is about 9 percent --
under the national average by a hair.
Monied Burbs in general are doing just slightly better than the nation as a
whole and the presumption is they will bounce back a bit quicker than other
community types. That money will presumably help Suffolk bounce back at least
somewhat more quickly.