Ener1, an electric car battery company that the Obama administration awarded a $118 million stimulus grant to expand its operations , filed for Chapter 11 bankruptcy protection Thursday after being unable to repay pressing debts. Read full article > >

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Obama-backed car battery company files for bankruptcy protection

Before you can ask whether President Obama has done a good job, you need to ask — and answer — another question: Compared to what? Take Andrew Sullivan’s essay on Obama’s record, which is getting a lot of attention. Sullivan writes that “the job collapse bottomed out at the beginning of 2010, as the stimulus took effect. Since then, the U.S. has added 2.4 million jobs.” Is that a good record? A bad one? It’s impossible to say until you’ve defined what you’re comparing it to. Read full article > >

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Has Obama done a good job? Well, compared to what?

Troy, Mich., is rejecting a transportation center that would have been fully financed with stimulus money.

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Michigan City of Troy, Led by Tea Party Mayor, Rejects Federal Dollars

Ask stimulus watchdog Earl Devaney about the economic program and he’ll tell you that federal agencies are distributing about $840 billion in a transparent, relatively fraud-free way. Ask him about much- debated questions — whether the program spurred job creation, saved the economy or faced political pressure from the Obama administration — and he shifts in his seat. Read full article > >

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Set to retire, stimulus watchdog Earl Devaney tried to stay above the fray

Earl Devaney, responsible for tracking federal economic stimulus dollars, is submitting his resignation to the White House Thursday and plans to retire at the end of December after 41 years of service at four federal agencies. Devaney told The Federal Eye in an interview Wednesday that he plans to retire to Florida with his wife — about four years behind schedule — and plans to seek part-time employment as a consultant or on corporate boards. Read full article > >

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Stimulus watchdog Earl Devaney stepping down

Renewable energy has received exceptional help from the government, mostly as part of the 2009 stimulus bill. That is ending, but some say it has been unnecessary.

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A Gold Rush of Subsidies in the Search for Clean Energy

If you were Herman Cain, what would you do? Undoubtedly countless men have pondered this question the past several days. The query got trickier when feminist attorney Gloria Allred presented a fourth woman — in person — to allege a past sexual transgression involving the former pizza executive. Or, as Allred colorfully put it, Cain’s idea of a “stimulus package.” Read full article > >

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Herman Cain and the parked car

The Federal Reserve said it remained concerned about the United States economy over the next two years but announced no new stimulus measures or rate changes.

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Federal Reserve Lowers Outlook for U.S. Growth

The federal watchdog who first raised concerns over the federal loan program used for the now-defunct solar company Solyndra is scheduled to testify on Capitol Hill Wednesday–his first appearance since the story broke. Gregory H. Friedman is slated to tell lawmakers that the Energy Department ‘s efforts to quickly distribute $35.2 billion in economic stimulus funding “was more challenging than many had originally envisioned.” Read full article > >

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Energy Department couldn’t manage stimulus money, watchdog says

The Commerce Department revoked a $80.6 million grant to bring broadband Internet connections to Louisiana, saying that the state fell behind schedule and changed its original plan for the stimulus funds . The vast majority of funds will be returned to the U.S. Treasury, except for $594,000 that has been delivered to the state already, according to the Commerce Department’s National Telecommunications and Information Administration. Read full article > >

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Commerce Department revokes $80M Internet stimulus grant

When Federal Reserve policymakers meet to decide the nation’s monetary policy, they usually discuss where the economy is heading and how they should adjust interest rates to try to keep prices stable and Americans employed. At their meeting this week , bigger ideas will be on the table. No major policy changes are expected out of the two-day session beginning Tuesday, but the discussion will probably focus on some core questions about how the central bank communicates with the public about its goals and expectations for the economy. Read full article > >

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Fed policymakers mull how to share economic goals and expectations

DOVER, Del. — A Massachusetts energy storage company that received a $24 million federal stimulus grant and a $43 million loan guarantee from the Department of Energy has filed for bankruptcy protection. Beacon Power Corp. of Tyngsboro, Mass., filed for Chapter 11 protection on Sunday in bankruptcy court in Delaware, listing assets of $72 million and debts of $47 million. Read full article > >

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Massachusetts energy firm that got stimulus grant, loan guarantee, seeks bankruptcy protection

The expiration of federal stimulus funding for Medicaid has dealt a blow to states still struggling to recover from the economic downturn, according to figures released Thursday. To compensate for the loss of extra federal Medicaid dollars this June, states have increased their spending on the program by an average of 29 percent in the current fiscal year. Read full article > >

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State spending on Medicaid up sharply

The initial verdict on the administration’s new mortgage-refinancing plan was that it will have a fairly modest impact. Yes, it would likely help out struggling homeowners in states like Nevada and Florida, where home prices have plunged so deeply that many people now owe more than 125 percent of what their homes are worth. But it’s hard to see how the plan can boost the economy to any noticeable degree. Read full article > >

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More complaints, quibbles and advice for Obama’s housing plan

Millions of American taxpayers may have erroneously claimed an education tax credit last year that was designed to provide relief as part of the Obama administration’s economic stimulus program, according to a new federal watchdog report disputed by the Internal Revenue Service . As many as 2.1 million taxpayers may have erroneously claimed a total of $3.2 billion by taking advantage of the American Opportunity Tax Credit , which provides up to $2,500 in relief for a college student paying tuition and related expenses. The tax credit, once known as the Hope Scholarship Credit, was expanded as part of the 2009 economic stimulus program. Read full article > >

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Report: Millions mistakenly claim education tax credit