In fact, only $3bn to $5bn of the bill – less than 1 per cent – counts as special interest spending, according to White House estimates. Moreover, some of these projects, such as $125m to upgrade Washington's sewerage system, are genuinely stimulative.
Beyond that, however, most economists agree that the upfront spending element of the bill, which includes almost $300bn in fiscal transfers to state and local governments and the extension of unemployment insurance and food stamps, will be disbursed rapidly and lead to job creation.
Some of it may already be having an impact. “There will be stimulus coursing into the economy right away,” a senior administration official told the Financial Times. “The anticipation of money for state and local governments is already preventing job losses.”