Posted on 11/03/2009 9:58:08 AM PST by bs9021
Stimulated School Systems
Malcolm A. Kline, November 3, 2009
Americans driving, or walking, through blocks of shut-down businesses and foreclosed-upon homes while greeting their unemployed neighbors or perhaps looking for jobs themselves may wonder what happened to the so-called stimulus money that Congress voted to spend earlier this year. On Monday, the federal government provided part of the answer to that question.
“The American Recovery and Reinvestment Act of 2009 (ARRA) provided approximately $100 billion to the U.S. Department of Education (ED) with the initial goal of delivering emergency education funding to states,” the ED department reported on November 2, 2009. “Immediately after President Obama signed ARRA into law on February 17, 2009, ED acted swiftly to provide a large portion of these funds to states in response to drastic budget shortfalls.”
“Over $67 billion in formula grants were awarded as of September 30, 2009.” The agency goes on to break that down.
“The largest portion of ARRA funds, $35.4 billion, was delivered through the State Fiscal Stabilization Fund (SFSF),” the ED department reveals. “In addition, $12.6 billion in ARRA funding was added to Title I, IDEA, and other formula grant programs, and $8.7 billion was allocated for Student Financial Assistance (Pell Grants and Federal Work Study).”...
(Excerpt) Read more at academia.org ...
What a waste of money.
literally pouring money down a rat hole
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