Call it the $787 billion question: Where is all that government stimulus money, and why hasn't it stemmed the heart-stopping slide in U.S. employment?

The stimulus plan was all about jobs, after all. Key Obama Administration officials pledged to save or create between 3 million and 4 million jobs with the measure. But the federal government's employment figures on July 2 clocked in worse that expected, with job losses lurching to 467,000 in June and the unemployment rate reaching its worst showing since 1983, at 9.5%; many expect it to rise further still. Public confidence in the stimulus plan is slipping and over the weekend, Vice-President Joe Biden suggested another stimulus plan is possible, something of a shift from Obama's position just two weeks ago that more spending...