UPDATE5: Lies, Damned Lies and Stimulus* Statistics

This ABC report pretty much speaks for itself:

More than 50,000 jobs, or one out of every 10 jobs the White House says were "saved or created" by their economic stimulus plan, came from projects that reported spending no money yet, according to a government report obtained by ABC News.

The report by the Government Accountability Office analyzes the administration's October 2009 report on jobs saved or created by the $787 billion stimulus program and finds a "range of significant reporting and processing problems that need to be addressed." ...

The new GAO report finds that 58,386 of the more than 640,000 "saved or created" jobs listed on recovery.gov are from stimulus projects where no money has yet been spent.

On the flip side, the report finds nearly 10,000 projects that report spending a total of $965 million without creating any jobs at all.

The report also raises questions about how closely the contracts are being monitored. Twenty-five percent of the more than 130,000 primary contracts listed were not marked as having been reviewed by any government agency, and less than 1 percent of subcontracts were reviewed.

Here's the ABC video report. Oy vey.