Tiny lights at the end of the tunnel?

Posted: August 20, 2010 in Smart in AZ, The Economy
Arizona Total Stimulus Funds

Arizona Total Stimulus Funds from Recovery.gov

Driving to work today, heading up 7th Street, north past Northern Ave, I noticed my first Stimulus at work sign.  They are doing some kind of road repair on the southbound lanes and they placed a green sign on the roadside that said “This project funded by the American Stimulus and Recovery Act”.   

Maybe if we’d seen more of these signs, people would be less disappointed with the administration.  But then again, this is Arizona….they were disappointed before he ever took the Oath of Office.  As you can see from the info taken from Recovery.gov we’ve received only about half of what we’ve been awarded.  This seems to be similar to other states as well.  Why is the distribution so slow?  It’s something that doesn’t seem to have an easy answer.  One would think, from a political standpoint alone, that they’d want to get it all out there so it could positively affect the economy before the November elections. But what do I know?

Another good sign was a report that came out today indicating that the rate of foreclosures in Arizona has dropped significantly.  More people have been able to keep paying their mortgages.  I heard this on the news on KJZZ, the NPR station but can’t find a written article to link to on the Internet.  Anyway, it sounded like good news. 

Unfortunately these kinds of news items may fall into the categories of “too little, too late” and a “temporary blip” before we take another plunge as so many economists seem to think we will.    I don’t even want to consider what that will mean for me personally as my family is already making serious austerity choices in our budgeting as it is.  Are these lights at the end of the recession tunnel or wishful thinking?

UPDATED:  The decrease in foreclosures story came from Transunion credit agency…..here’s an article at AZCentral.com


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