For one, only 11% of the $787 billion bill has actually been spent. That's only $86 billion, about the amount of money poured down GM.
A good portion of the Porkulus is tax cuts, which adds to the federal debt but don't stimulate the economy. With everyone worried about a layoff, nobody is spending any tax cuts/rebates/handouts. The money is going into peoples checking accounts and paying off bills or credit card debt. Nobody in their right mind is going to splurge on new cars, clothes, or anything but groceries with a layoff looming in the future. We aren't going to see consumer spending come back until unemployment has been licked.
You could get quite a bit of economic stimulus by just repealing the Porkulus bill. That would show people that the US government isn't completely spendthrift.
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