ON WHAT IS THE TENNESSEE STIMULUS BEING SPENT?
Recently there was an article detailing a committee set up by both Mayors to oversee the stimulus spending in Memphis and Shelby County. In talking to one of the members of the committee and looking at the website, no details were posted as promised on the following website. http://memphistn.gov/stimulus/default.aspx. I then went to the state website http://www.tnrecovery.gov/032509-TN-Allocation-Summary.pdf and found the following information which I put into a spreadsheet. I have attached the spreadsheet and organized the money into social programs (non stimulative) and other programs that could stimulate business. In looking at the spreadsheet, I found that 80% of the almost $4.5 billion dollars for Tennessee are for social programs that in no way promote business recovery. Look at the spreadsheet and if you want to get further information about any particular program, go to the state website link above and read a further description of what the money for each particular program is intended to do. e.g. Under education there is $194 million for Title 1 Grants to LEAs. The explanation is to provide funding grants to Local Educations Agencies (LEA’S) for basic school expenditures. Available in school years 2009-2010 and 2010-2011.
What this all amounts to is borrowing taxpayer money to fill in for the expected shortfall during the next two years in the hope that the economy will recover and the stimulus money will not be needed after that time. Borrowing, instead of cutting the budget and becoming more efficient. What a terrible business strategy.
Recently there was an article detailing a committee set up by both Mayors to oversee the stimulus spending in Memphis and Shelby County. In talking to one of the members of the committee and looking at the website, no details were posted as promised on the following website. http://memphistn.gov/stimulus/default.aspx. I then went to the state website http://www.tnrecovery.gov/032509-TN-Allocation-Summary.pdf and found the following information which I put into a spreadsheet. I have attached the spreadsheet and organized the money into social programs (non stimulative) and other programs that could stimulate business. In looking at the spreadsheet, I found that 80% of the almost $4.5 billion dollars for Tennessee are for social programs that in no way promote business recovery. Look at the spreadsheet and if you want to get further information about any particular program, go to the state website link above and read a further description of what the money for each particular program is intended to do. e.g. Under education there is $194 million for Title 1 Grants to LEAs. The explanation is to provide funding grants to Local Educations Agencies (LEA’S) for basic school expenditures. Available in school years 2009-2010 and 2010-2011.
What this all amounts to is borrowing taxpayer money to fill in for the expected shortfall during the next two years in the hope that the economy will recover and the stimulus money will not be needed after that time. Borrowing, instead of cutting the budget and becoming more efficient. What a terrible business strategy.
posted by watchdog at
12:28 PM
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