It was touted by its supporters as the emergency cure for the worst economic crisis since the Great Depressions, but only $21 billion of the $787 billion stimulus bill has been spent, and only $90.7 billion is “in the pipeline,” according to the Seattle company that is tracking the expenditures.

Mike Pickett, CEO of Onvia, told the House Government Reform Committee today that 1,330 contracts valued at a total of $21 billion have been awarded. Using the Obama administration’s controversial formula for measuring job creation, Pickett said Onvia estimates that 230,000 jobs have been created or retained as a result of the $21 billion.