Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/15/2012 (2 years ago)

Catholic Online (www.catholic.org)

Money was not used to create jobs and spur small businesses, feds learn

Millions of dollars intended as stimulus money to aid small businesses, grow local economies and create jobs has since been discovered to have been misspent, wasted or defrauded. The $840 billion stimulus plan has been greatly compromised due to misuse, leading to increasing the federal deficit and national debt. Federal investigators now have 1,900 investigations in progress to see how that money was squandered.

The $11.1 million only identifies money that is considered lost to fraud and does not include funds still under investigation or those recommended for reimbursement after audits identified misspending, officials say.

The $11.1 million only identifies money that is considered lost to fraud and does not include funds still under investigation or those recommended for reimbursement after audits identified misspending, officials say.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/15/2012 (2 years ago)

Published in Politics & Policy

Keywords: Stimulus programs, squandered, federalinvestigators, Energy programs


LOS ANGELES, CA (Catholic Online) - Government watchdogs have already secured nearly 600 convictions and judgments against people and companies accused of misusing stimulus funds.

More than three years after the American Recovery and Reinvestment Act was passed by Congress, the chief question now is how the money was managed early in the program. The investigations are certain to extend well into the next year as many the investigations reach their conclusion.

The total amount of money lost to fraud from the $840 billion stimulus program has been a paltry $11.1 million thus far. Vice President Joe Biden made reference to the figure as he defended the stimulus program from attacks from Republican Rep. Paul Ryan during the vice presidential debate last week.

The $11.1 million only identifies money that is considered lost to fraud and does not include funds still under investigation or those recommended for reimbursement after audits identified misspending, officials say.

A senior official familiar with the ongoing investigations by inspector's generals at federal agencies told newspaper reporters that he expects that dollar amount only to grow larger.

"These cases often take months or years, and we've got hundreds open right now across the government so that number is going to go up, probably by a large amount over the next 18 months," the official said, speaking only on condition of anonymity.

Several inspectors' generals have announced new convictions, prosecutions or audits, a sign that some of the investigations are growing closer to conclusions and judgments.

Some examples on how stimulus dollars were squandered for personal gain include:

The Energy Department inspector general reported last week it discovered the California energy commission collected two duplicate payments under a stimulus program that costs taxpayers $678,000. Investigators suggested that the money should be repaid.

In addition, a Louisiana group that received stimulus funds for Head Start programs for children had inappropriately spent nearly $1.2 million in federal funds to construct a new building that wasn't approved by federal officials.

The Energy Department inspector general also warns in its most recent semiannual report that the Western Area Power Administration, which received $3.25 billion in borrowing authority to help build transmission lines under the stimulus law, is at risk of losing significant money on a transmission project for wind power in Montana that it funded.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for June 2015
Universal:
That immigrants and refugees may find welcome and respect in the countries to which they come.
Evangelization: That the personal encounter with Jesus may arouse in many young people the desire to offer their own lives in priesthood or consecrated life.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Politics & Policy

SCOTUS PROTECTS - Religious institutions in Pennsylvania protected from HHS mandate Watch

Image of The Pennsylvania-based religious groups are among hundreds of plaintiffs challenging the federal HHS mandate, which requires employers to offer coverage of sterilization, contraception, and some drugs that can cause early abortions.

By Matt Hadro, CNA/EWTN News

The U.S. Supreme Court has issued an order protecting a group of Pennsylvania religious institutions from being required by the federal contraception mandate to violate their faith. Washington D.C. (CNA/EWTN News) - "Doesn't our government have something better to do ... continue reading


DUMP TRUMP? NO WAY. Some brave Hispanic leaders call billionaire 'terrific' and 'brash' Watch

Image of Other presidential contenders have disregarded Trump's comments. It's seen as a setback for many Republicans, who wish to court the widely growing Hispanic population.

By Catholic Online (NEWS CONSORTIUM)

Multi-billionaire, Republican candidate for President has always been known for his outspokenness. In a speech to announce that he was throwing his hat into the ring, Trump said Mexican immigrants are "bringing drugs. They're bringing crime. They're rapists. ... continue reading


Obama declared 'amateur' and 'Marxist' by Center for Disease Control (CDC) official Watch

Image of Countless Central Americans, piling through the U.S. southern Border States along the border with Mexico has brought an influx of unvaccinated people with diseases that have since been eradicated in the U.S.

By Catholic Online (NEWS CONSORTIUM)

United States President Barack Obama's unchecked influx of unvaccinated child immigrants across the U.S. - Mexico border has an official with the centers for Disease Control denouncing him as a "Marxist" and "amateur." An email from the official called him the ... continue reading


Presidential candidate Mike Huckabee speaks out on Obama's gay pride light show and the legalization of gay marriage Watch

Image of

By Hannah Marfil (NEWS CONSORTIUM)

In celebration of the Supreme Court's gay marriage ruling, President Obama lit up the White House with rainbow colors, which garnered a response from Republican, former Arkansas governor and now presidential candidate Mike Huckabee. Huckabee was noted as saying that ... continue reading


Supreme Court 'unwrote laws of nature' GOP presidential candidate Mike Huckabee declares Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Saying that the Supreme Court tried to "unwrite the laws of nature and the laws of nature's God" when it legalized gay marriage across the nation last week, GOP presidential candidate Mike Huckabee also pointed out the fact that President Barack Obama himself ... continue reading


'They will stand behind lying Brian Williams, but won't stand behind people that tell it like it is': Donald Trump fired from NBC for controversial immigrant statements Watch

Image of Donald Trump retired from The Apprentice after announcing his presidential bid.

By Abigail James (NEWS CONSORTIUM)

NBC has made the decision to cut ties with Donald Trump, over his political view and controversial statements regarding immigration made during his presidential announcement. Donald Trump and NBC have had a relationship, including Trump's produced Miss USA and Miss ... continue reading


When is the best time to take out Social Security? Watch

Image of 100-year-old woman.

By Talia Ramos (NEWS CONSORTIUM)

Financial advisers usually advice their clients to take Social Security benefits at the age of 70 for maximum growth. However, it is found that most people don't take that advice, as they are likely to withdraw what they have saved up as soon as they hit retirement. A ... continue reading


IT'S NOT OVER: Freedom of Religion may trump same-sex marriage victories Watch

Image of

By Matt Hadro and Adelaide Mena, CNA/ETWN News

Friday's Supreme Court ruling against the traditional understanding of marriage may pose huge obstacles to the free exercise of religion and conscience across the U.S., the nation's bishops have said in response to the decision. Washington D.C.(CNA/EWTN News) - ... continue reading


Decisions on same-sex marriage, power-plant emissions now in the hands of Supreme Court Watch

Image of Six major cases, all of them affecting the American Way of Life are in front of the Supreme Court.

By Catholic Online (NEWS CONSORTIUM)

Six major cases, all of them affecting the American Way of Life are in front of the Supreme Court. Decisions regarding same-sex marriages, power plant emissions and execution methods will all be rendered by either Friday or early next week. LOS ANGELES, CA ... continue reading


Obama adviser Valerie Jarrett's family has strong communist roots, files prove Watch

Image of Valerie Jarrett's father, pathologist and geneticist Dr. James Bowman, has been found to have had extensive ties to Communist associations and individuals.

By Catholic Online (NEWS CONSORTIUM)

Does the apple truly fall far from the tree? Recently uncovered files show that Valerie Jarrett, a senior adviser to U.S. President Barack Obama and trusted confidant has family ties with those with communist leanings. These uncovered files prove that Jarrett's ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ezekiel 2:2-5
2 As he said these words the spirit came into me and ... Read More

Psalm, Psalms 123:1-2, 2, 3-4
1 [Song of Ascents] I lift up my eyes to you who are ... Read More

Gospel, Mark 6:1-6
1 Leaving that district, he went to his home town, ... Read More

Reading 2, Second Corinthians 12:7-10
7 Wherefore, so that I should not get above myself, I ... Read More

Saint of the Day

Saint of the Day for July 5th, 2015 Image

St. Anthony Mary Zaccaria
July 5: Cofounder of the Barnabites. Born in 1502 in Cremona, Italy, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter