A new study issued by Senators Tom Coburn and John McCain identify a plethora of projects funded by stimulus money in which the costs can be observed. What is seen is not pretty. As I said in my commentary, because such stimulus policy directs scarce economic goods away from their most productive uses, fiscal stimulus is worse than useless, it is destructive.
The study from Coburn and McCain identifies 100 projects where the costs clearly outweighed any benefit and net jobs were lost. You can read a good summary of the study here at Business Insider. Economically destructive projects funded by the stimulus plan included:
- $554,763 used by the U.S. Forest Service to replace windows in an Amboy, Washington visitor center that closed in 2007.
- $62 million poured into the disastrous North Shore Connector to professional sports stadiums and a casino in Pittsburgh, Pennsylvania.
- $1.9 million received by the California Academy of Sciences to send researchers to the Southwest Indian Ocean Islands and east Africa, to capture, photograph, and analyze thousands of exotic ants.
- FEMA stalling two Texas fire stations for more than a year due to increased costs and red tape because it received $7.3 million.
- $89,298 spent by Boynton, Oklahoma to replace new sidewalks with even newer sidewalks that lead to a ditch.