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smokin3000gt
09-17-2010, 08:02 AM
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http://www.ibtimes.com/articles/63228/20100917/american-recovery-and-reinvestment-act-arra-los-angeles-stimulus-wendy-greuel.htm (http://www.ibtimes.com/articles/63228/20100917/american-recovery-and-reinvestment-act-arra-los-angeles-stimulus-wendy-greuel.htm)

Stimulus funds failed to create enough jobs: LA City Controller



By IB Times Staff Reporter | September 17, 2010 3:41 AM EDT

The Los Angeles City Controller said on Thursday the city's use of its share of the $800 billion federal stimulus find has been disappointing.
The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.


"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," says Wendy Greuel, the city's controller, while releasing an audit report.



"With our local unemployment rate over 12% we need to do a better job cutting red tape and putting Angelenos back to work,” she added.
According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours works) after receiving $70.65 million, while the target was 238 jobs.
Similarly, the city’s department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.

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The audit says the numbers were disappointing due to bureaucratic red tape, absence of competitive bidding for projects in private sectors, inappropriate tracking of stimulus money and a laxity in bringing out timely job reports.
“While it doesn’t appear that any of the ARRA funds were misspent, the City needs to do a better job expediting the process and creating jobs,” she said.



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55 jobs created with $111 million stimulus?? That's $2 million/job!!

venom
09-17-2010, 08:07 AM
Say it ain't so

GBMelBlount
09-17-2010, 08:15 AM
smoking3000gt


55 jobs created with $111 million stimulus?? That's $2 million/job!!

I think it's been mentioned by suit and others that it was thought to be about $1,000,000 of government deficit spending for each short term pick and shovel job.

I would imagine that is why the unemployment has not dropped to the degree that Obama said it would.

My daughter attends a private school and her tuition is 1/4 what it is per student as compared to another local public school and the private school test scores are about 2 grades higher on average....

My point is simply that I don't understand how people can look to government monopolies as a superior solution to PROPERLY regulated free markets and competition...

It's not even arguable imo.

SCSTILLER
09-17-2010, 09:21 AM
GB, I am with you. I cannot fathom how people think the govt is the cure for anything. I for one cannot think of a govt program this is run well and efficiently.

Just wait, more money is going to be wasted in a second (ahem) stimulus to try to get the economy going again. Thats the solution, just dump more money into something that is proven to not have worked.

zulater
09-17-2010, 11:57 AM
Shocking! Next thing you know you right wing nuts are goingto try to tell us there isn't full employment in a working paradise like Cuba!

venom
09-17-2010, 11:58 AM
Nice use of our money. I also wonder about the jobs. Part time? Short term? Government not revenue producing jobs?

stlrtruck
09-17-2010, 01:13 PM
And in other news our government officials continue to fail us The American People.

Next!