Self Proclaimed Budget Watchdog Exhibits Lack of Basic Understanding of Federal Stimulus Laws

DES MOINES – While he proclaims himself a fiscal watchdog, State Auditor David Vaudt has been a Republican lapdog when it comes to inaccurate attacks on President Obama’s federal recovery plan. Now, in unannouncing his campaign for Governor, Vaudt indicated that he doesn’t even understand how recovery funds are required to be used by the state.

“Earlier this year, Auditor Vaudt said Iowa should turn down federal funds. Yesterday, he said Iowa is spending the federal funds too fast. While he tries to get his position on this issue straight, he needs to at least get the facts right. President Obama’s federal recovery program will have an immediate impact on our economy, which is exactly what Governor Culver and the legislature are doing with these funds,” said Mike Kiernan, chair of the Iowa Democratic Party.

The American Recovery and Reinvestment Act requires states to spend 75% of their funds within 24 months, with even shorter timelines for shovel-ready projects.

Added Chairman Kiernan, “It’s probably just as well that Mr. Vaudt is not running for Governor, but if a fiscal watchdog lacks this basic understanding of a critical economic program then maybe Iowa needs a new Auditor,”