US Stimulus At Work---Job Creation at Cost of $2.2 Million Per Job!

This is another reason why I marvel at those who think trusting our federal government to spend its way out of the dire economic straits we are in:

Los Angeles Has Received $111 Million in Spendulus Funds; Only 54 And a Half Jobs Have Been “Saved or Created”

The Los Angeles City Controller has released the audit (PDF) of what we’ve done with the $111 million dollars in stimulus funding we’ve received so far.
DPW has received $70.65 million and created or retained 45.46 jobs, though they are expected to create 238 jobs overall (the fraction of a job created or retained correlates to the number of actual hours works). LADOT has been awarded $40.8 million and created or retained 9 jobs, though they are expected to create 26 jobs overall. Overall, the Departments have received $111 million in federal stimulus funds out of the $594 million the City has been awarded so far and created or retained 54.46 jobs.

“I’m disappointed that we’ve only created or retained 55 jobs after receiving $111 million in ARRA funds. With our local unemployment rate over 12% we need to do a better job cutting the red tape and putting Angelenos back to work,” said City Controller Greuel. “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.”

Greuel is a master of understatement. and this is but one local government of the 1000s receiving the federal largesse.

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