The Congressional Budget Office is raining on President Obama's stimulus parade. Less than half of the $355B requested for infrastructure and other discretionary spending will actually be spent by October 1, 2010, thereby undercutting the whole notion of an immediate, stimulative impact. This is exactly what a number of Republicans in the Congress have been saying.
I'm not against some fast spreading around of money on important and quickly begun capital projects. But when over half of the money allocated won't be spent until well after most economists see this economy as on the way up again, it seems like a plain waste of money.
I'd rather see the money NOT able to be spent as quickly applied to that tried and tested way of pumping more money into the economy....letting people keep more of it! Not some kind of temporary rebate that folks use to pay down debt, but a real tax cut that actually changes behavior (as in, causes people to spend money).