The short answer is unprintable. The long answer is…apparently, the Obama administration can’t be bothered to follow the law.
Have you heard much about President Obama’s $787,000,000,000 economic “stimulus” (now estimated to cost $831,000,000,000) lately? In its last report, published in 2011, the president’s own Council of Economic Advisors released an estimate showing that, for every $317,000 in “stimulus” spending that had by then gone out the door, only one job had been created or saved. Even in Washington, that’s not considered good bang for the buck.
Moreover, that was the fifth consecutive “stimulus” report that showed this number getting progressively worse.
Alas, that was the last report we’ve seen. Never mind that Section 1513 of the “stimulus” legislation, which Obama spearheaded and signed into law, requires the executive branch to submit a new report every three months. It reads:
“In consultation with the Director of the Office of Management and Budget and the Secretary of the Treasury, the Chairperson of the Council of Economic Advisers shall submit quarterly reports to the Committees on Appropriations of the Senate and House of Representatives that detail the impact of programs funded through covered funds on employment, estimated economic growth, and other key economic indicators.”
ndeed, the old reports that the administration released begin, “As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009 [the ‘stimulus’], the Council of Economic Advisers (CEA) was charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular.”
Section 1513 further specifies, “The first report…shall be submitted not later than 45 days after the end of the first full quarter following the date of enactment of this Act….The last report required to be submitted…shall apply to the quarter in which the [Recovery Accountability and Transparency] Board terminates under section 1530.” Section 1530 declares, “The Board shall terminate on September 30, 2013.”
In other words, the Obama administration is required by law to submit quarterly reports on the “stimulus” through the third quarter of 2013. By now, it was supposed to have released fourteen such reports. It has released only eight. The last one covered the period ending in June 2011. That’s right — 2011.
That the administration has once again shown their contempt for congress by not reporting what the people’s representatives have demanded is not surprising. Budget deadlines missed, requests for documents denied, other mandatory reports delayed — this White House acts as if they are not statutorily obligated to obey the law, that compliance with congressional directives is optional.
So much for “transparency.”