That appears to be the main point of a news article complaining that the stimulus money was spent too fast. The article talks to construction contractors who complain that they have a limited backlog of orders for 2010. It notes that 77 percent of the $27 billion in highway contracts had already been committed by mid-November.
Of course, the money is not spent the day it is committed. Most of the spending from the construction projects in the stimulus is actually yet to take place. Insofar as there is a story of inadequate demand in the construction sector it is a story of the collapsed residential and non-residential real estate bubbles. The stimulus is a relatively small counteracting factor.
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