ANNIVERSARY: The Stimulus Package Turns One

[Source: Bureau of Labor Statistics] POTUS: Millions of jobs had already been lost to the recession before I was sworn into office. Another 800,000 would be lost in the month of January. We’d later learn that our economy had shrunk by an astounding 6.4 percent in the first quarter of 2009, and economists from across the political spectrum warned that if dramatic action was not taken to break the back of the recession, the United States could spiral into another depression. MORE RELATED: Philadelphia and Camden will be sharing $23 million from a federal government to extend, connect and create […]

DO THE MATH: One Billion In 215-Targeted Stimulus Dollars Has Created Just 3,500 Jobs In Philadelphia

[Illustration by ALEX FINE] DAILY NEWS: Federal records show that more than a billion dollars from President Obama’s $787 billion economic-stimulus program has been targeted for Philadelphia. But the typical job created here is just as likely to require a lab coat as a hard hat, as much of the money has gone for university research projects. Meanwhile, city government, which has been financially ravaged by the recession, has gotten relatively little help from the stimulus program, and then mostly in indirect ways, like payments to citizens that bump tax revenues, or money to accelerate already-planned capital projects. In the […]