Stimulus Projects Running Under Budget

From today's press conference at the Department of Transportation:

And that's why I'm pleased to hear that in state after state across America, competition for these projects is so fierce, and contractors are doing such a good job cutting costs, that projects are consistently coming in under budget. The final bid for one road project in Connecticut was $8.4 million less than the state budgeted for. Another one in Louisiana was $4.7 million less. A project at BWI Airport will be completed for $8 million less than expected. Bids for projects in North Carolina have been 19 percent under budget. Colorado is reporting bids up to 30 percent less than they expected. And the officials in California have seen bids that are close to half as much as they had projected.

And because these projects are proceeding so efficiently, we now have more recovery dollars to go around. And that means we can fund more projects, revitalize more of our infrastructure, put more people back to work, and ensure that taxpayers get more value for their dollars.

Interesting timing for the President's statements considering there was some growing sentiment that trying to control wasteful stimulus spending was counter-productive. A win for the administration.