Update: Infrastructure spending to be used sparingly

Update 1/24/09: The CBO report cited by all the media outlets below was not a report. Further, it was not a complete analysis and was based on an older version of the stimulus proposal. So, best for all bets to be off until the official report is released.

Controversial CBO Report On Stimulus Turns Out Not To Exist
- Huffington Post

“The CBO report looked at a—only a portion of the legislation and looked at that portion of the legislation before it began the committee process that Jake was talking about—a snapshot in time that’s long past.” - White House Press Secretary Gibbs
- Transcript from White House Briefing (Friday)

Thanks to Sean Gillies for keeping an eye on me and my sources.

—- original post 1/21/09——

That’s the title of the article in The Washington Times.

Key points:

About $26 billion, just 9 percent, of President Obama’s proposed $274 billion stimulus effort aimed at infrastructure will be spent by Sept. 30, the end of fiscal 2009. That’s according to the Congressional Budget Office, the agency that analyzes tax and spending proposals for Congress.

Further, less than half of the $30 billion in highway construction spending sought by House Democrats would get into the nation’s spending pipeline in the next four years per the AP.

via Twitter (@bentleysystems, retweeted by @geothinkers)

More sources (all ultimately cite CBO): Washington Post, AP