Tuesday, November 03, 2009

Bailing Out Microsoft [Greg Pollowitz]

The White House has released a debunking of "10 Recovery Act Myths." My favorite is No. 9:

Recovery Act funds are being used to build a bridge connecting two Microsoft campuses. Reports have said that $11 million in Recovery Act funds are being used to connect two Microsoft campuses in Redmond, Washington. Actually, only about half of that amount is being used for this project, which is a vital transportation project strongly supported by both state and local officials in an area that supports over 44,000 jobs and was the region’s top priority after a rigorous, competitive review.

Ha! Gotcha! We're only spending $5.5 million to bail out a company with $33 billion in cash on its balance sheet.